DislikedHello Myo,
I like your thorough analysis and although I never try to read too much into fundamentals because we never know what is reflected and what is not yet and when fundamentals will start having a grasp on price, I have to say that it makes sense (not an endorsement).
Of course technicals are what counts and I agree with your analysis. Would not give too much meaning to the 1.30-1.40 range, because I believe deep pockets money are free to move price of the Euro for hundreds of pips. Indeed my analysis says that we could see...Ignored
"......following the exclusive series of the Fed's direct bailout of European banks and, indirectly of Europe, will not be surprised at all to learn that in the week ended February 27, or the week in which Europe went into a however brief tailspin following the shocking defeat of Bersani in the Italian elections, and an even more shocking victory by Berlusconi and Grillo, leading to a political vacuum and a hung parliament, the Fed injected a record $99 billion of excess reserves into foreign banks.
As the most recent H.8 statement makes very clear, soared from $836 billion to a near-record $936 billion, or a $99.3 billion reserve "reallocation" in the form of cash - very, very fungible cash - into foreign (read European) banks in one week."
http://www.zerohedge.com/news/2013-0...g-us-past-week