USD going to be more than EUR 1.00
This would be something we have not seen for a long time.
I don't really find any data prior to 2003 but since that time, EUR has never been at par with the USD. In fact USD has fallen over and over again to a bottom of EUR0.65 or so by 2008. So what had happened?
A double double bottom make a huge double bottom with time span of 9 years!(?) The break out happened beginning this year and the measurement based on the Tsunami size double bottom is EUR1.06. IF that happens, it would be unpresidented as for the first time USD is larger than EUR.
But wait, the indiators are at the peak, meaning a retracement is in order. I suspect it willhead back to EUR0.85 before continuing its journey to 1.06.
What will happen next? Well, mostprobably my teacher would have the answer.
posted by denzuko1 @ 10:50 PM
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Note: In addition to the double bottom, a bigger bottom formation in the form of reverse head and shoulder further confirm the trend which USD1.00 ==> EUR1.05.
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