Finally EUR/USD broke above 1.4365 resistance helped by the stronger stocks and commodities. All the major markets have nothing to do with the underlying fundamentals. USD is undervalued and if EUR/USD continues to go higher it will dive lower later just like it did less than 1 year ago. The same bubbles are forming again and I am wondering if the fund managers have brains or are just so greedy and stupid enough to make the same mistakes in such short time period. Whatever! The trend in EUR/USD is bullish and if the stock market rises again we can see another attempt for a break above 1.4450. Next targets of the upmove are 1.470 and 1.4810. Support (if there is any) is around 1.4205/00 and 1.4010/00. If you are bearish for USD be very careful. Sooner or later someone will realize that the fundamentals are different and the scenario from the last summer will be repeated.
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