My interest in the price of the euro relative to the US dollar is personal, since I happen to live in France now, and my income comes in the form of US dollars. Whether I earn them or not is a judgment for you to make. But one way or another, they end up in my bank account as dollars, and I have to convert them to euros, whether to buy us this day my daily baguette, or an apartment to house me for the rest of my life.
So, I’m trading the euro whether I like it or not, either passively by doing nothing, or actively, by buying and selling at appropriate chart levels.
Maybe a few other expats and assorted degenerate currency traders might have an interest in this as well. If not, that’s ok. Because I’m good enough, I’m smart enough, and doggone it. People like me.
At the moment, I have a short term cycle projection of 1.105. That’s also a trend support area a few days hence. The one year cycle projection however, looks lower, maybe 1.06.
So, it seems that I should just hold on to my US doodahs for now, transferring only what I need to spend on a daily basis. I’ll look at that 1.105 area as a place to take a significant position if the daily patterns play out in the right way there.
Meanwhile:
Gold Breakout Points To More, Miners Swing Picks Look Good
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