Dislikedbeen a avid euro bull in 2007 but now monsters, dragons, bad smells are going out of euro closet.
just latest data from europe is awful, bad, terrible, horrible,
whatever you want to name it.... let see if trichet threat to raise rates and happens the same than with aussie being soldoff yesterday. crazy indeed... but investors seem to be focusing more on growth than interest rates. and they soldoff aussie knowing that the rate raise was more pressure for the consumers.
euro area seemed to be ok, but some mins ago, making some calcles how progress from data tended to worsened in usa and europe zone.
and result is, let me say europe worsening report ratio is doubling usa in speed, nothing bullish for euro.
dare to say, see more close 1.40 than, 1.50.
even if trichet manages to cut just little 0.25bp, mass euro selloff can be seen as it has been artifically inflated thanks to trichet bullish words.
other point to consider, also the recent big shift in banks worldwide against euro, is putting some extra pressure in the single currency.
oh well and technically euro is in terrible bad shape failing to make new highs. and having "weekly" triple top
not dared to write this some time ago, but now seems very touch with reality.
changes are good, and now being with the usd will be a pleasureIgnored
I'm staying long adding on dips.