DislikedSo PT, I guess based on you analysis there is no news/ fundamentals that supports this huge upward trend?Ignored
Also before the upward move started, I outlined what the fire and the fuel were here
What Pbh failed to tell you is that the major underlying fundamentals have not changed.
1. The EFSF box is still empty and nobody wants to fill it
2. Growth forecasts for Europe have been lowered to 0.5% for all of 2012
3. Greece still has an unsustainable debt no matter which G-Pap leads them
4. Italy cannot attract bond purchasers in the open market. The ECB has to keep buying BTPs in order to keep the rate lower than 7%. How long can they keep it up? They only have €40 billion allocated for this task as well as Spanish bonds, and Italy has over €200 Billion maturing in 2012
5. The ECB still has to cut another 0.25% off their interest rate
6. At some point the ECB will have to implement some form of stealth QE thereby devaluing the Euro somewhat.
7. The USD is under valued because a risk of QE3 is already price in, but there will be no QE3 because the US economy is showing signs of life.
8. If you study the EUR/USD charts you will come to the conclusion that we are in a bearish trend and have been since May 2011.
9. I think the first 8 points are enough for now.
Those who say it cannot be done should not interrupt those who are doing it