market turmoil

Euro to reach 1.17 versus Dollar in 2012 ($EURUSD)

Posted by Investing Freak on May 29, 2012
Market Analysis / Comments Off on Euro to reach 1.17 versus Dollar in 2012 ($EURUSD)

With the current re-ignition of market turmoil in Europe and their unifying currency, the Euro is in trouble again in part due to fears of Greek default an exit from the Euro, the Spanish bank bailouts and many other issues currently facing European countries (as well as US).

News are absorbed in the market faster than you can blink with today’s technological tools and robot trading programs so its time to exploit my perceived strength which is long term technical analysis.

The charts you will see below are very simple charts of the Euro as far back as I could get data for and the conclusion I came to is that $EURUSD will reach the 1.17 mark again within months in 2012.

Note: The Bigger and longer term version of the chart can be found by clicking on the image below.

Would love to hear your opinion and take on this so feel free to comment or tweet and include @investingfreak


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