I am Watching now...
Thursday, February 28, 2008
Trendline 1.5 broken
At last, the 1.5 barrier(EUR/USD) is broken. Fulled by many rate cuts and unexpected good news from germany traders push past the level with conviction. AUD/USD is closing in on parring and is testing 0.95 level now on more rate hikes from the RBA. The FED says they are watching closely on the USD. They are more concern about downside risk and starting to worry a bit on inflation now. With the US index also trading at low levels, do you expect to start buying some cheap USD? With elections coming up, and more writedowns comming out, the picture is indeed gloom for USD bull now. Stay put as more psycological level is tested and the march FED meeting.
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