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Friday, November 26, 2010

USD Update

Please refer to my last post about USD and our long-term calls.

This post is just a follow up and see how this last call is so far doing. Around two weeks ago I defended the Euro had topped and we were poised for a big move down in Euro (and implicitly a big move up on USD) in the following weeks.

The fact is following that post the USD has risen almost 8% now which in the currency world is a very big move already. EURUSD dropped already almost 1000 pips which is very considerable and if one were to be short that would translate into 10 000 dollars of profits per contract - a very handsome fee indeed.

Here's how the picturee has unfolded since then:

It seems that our call is on the wagon thus far... If indeed my prognostic is right, this leg that has started now should take the USD higher in a very powerful move since we are now crossing into third wave territory.


Disclaimer: The author holds short positions in EURUSD and long positions in USD Index. The author does not take responsibility from the actions taken by others. The opinions listed on this article are of the author only, and shall not be deemed as financial advice, or any other sort of advice. All visitors to the blog should do their own research before making any decisions. This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses any one might sustain from the content provided. Author is not a registered financial advisor. Author does not engage in dispensing financial advice.
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