Crazy EUR/USD Chart - August 10, 2008
Check out this chart of the EUR/USD pair over the past few weeks. One of the most dramatic reversals from long to short on the Euro I've ever seen...look at that huge gap downward over the weekend of August 9-10. The recent decrease in oil prices has really taken a lot of the pressure off the dollar - and also lost me quite a few pips as I continued to bet against it. Only in the past few days have I started shorting the Euro and made back some of those pips - including almost 300 pips this past Friday. Now I'm wondering how the conflict between Russia and Georgia is likely to effect regional stability, oil prices, the EUR/USD and everything else...
posted by The Riverman @ 4:18 PM
3 comments
3 Comments:
During the 1998 financial crisis, the World Bank was at hand to provide rescue package with strict conditions attached.
This time around, there was a notable silence on the World Bank part, or that the newspaper I read had not captured the statements.
Can US pump more money i.e. hundreds of billion without affecting its credibility?
Does the US indeed such a rich nation that it could have trillions of money?
Is the trillions of money from US then is in the reserves of most central banks, spent in the wars and now pump into the financial system has real value or just perceive value?
Just incredible!
John Manager
www.fxcapitalfund.com
It was so amazing race for the USD and the EUR when we take a look on the graph i would say that this two countries has the potential to become the top gainer in every month or weeks. US is a rich nation but they are trying to get much more richer to defeat and to become the no. 1 country in Asia.
I see history evolving towards an incredibly economical crisis, but actually suffering setbacks, repeating the same patterns along the way is it a waste of time to look back?. For me history looks like always covering the same ground in a different way with each revolution.
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