The Euro is approaching the top of its current uptrend against the Dollar. The turning point will come when the market begins to anticipate an increase in American interest rates, while the Euro zone holds rates down.
what do you think about the resemblence with 2002 to 2008 ? the momentum, the fractal, the % values, the total week count, everything is similar to the run of 2002 - 2008 even the months are similar, seems like we are at 2003 January. All logic and sense would say against this (FED rates, ECB Rates, current world politics and so on) but the resemblence is uncanny
KrunchieKilleen
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@sahinrecan, the resemblance is strikingly similar. But the security is coming up against a strong resistance line soon. Will it bounce or break through? Why should Euro continue to rise, if the rates are going the other way. I expect it to bounce, but tread cautiously.
sahinrecan
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@KrunchieKilleen, definetly.... all common sense, rational approach, economics says it should not break the resistance line with the following:
a) [political differences (albeit german elections happened in 2002 september, just like2017 september, the US agenda was different at that times, financing a war in iraq (not yet declared) - theories of globalism, not protectionism was on the hot headlines, therefore, euro / along with all other currencies needed to be strong to support capital movements to build globalism,
b) as you've mentioned, current ECB rates, 2008 crisis, (unlike 2001 crisis, 2002 was just one year after and here we are, 10 years, still talking about infilation to speed up) the spoils of 2008 crisis still exists...
so i guess, the 1.23-1.28 zone will be a crazy manipulation zone.... the fake breakouts, fake supports, we will see....
a study showing this resemblence