June 6, 2010
How low can the EURO go?
Hello Everyone,
Just got back from my vacation in Northern Europe. and had a great opportunity to visit, Norway, Sweden, Finland, Russia, Estonia, Denmark and Poland.
It was really fun to not only get away from my usual place of resisdence but to get away from the markets as well. It really helps you to refocus and recharge the batteries.
Anyway, unless you were visiting the moon you couldn't help hearing about the sinking Euro and all the woes in Europe. As a result I received quite a few emails from traders asking me how low the Euro can go. While I don't have a crystal ball and can't know the final market bottom, I can tell you that traders constantly underestimate how low things can go.
With that in mind be very careful with any long positions in the Euro based pairs and only look to scalp against the down trend.
Until next week, peace and prosperity,
Jeff Wilde
"Forget Forex Robots that promise instant wealth and fail to deliver again and again… Here's a no-nonsense strategy that doesn't take years to master and that actually works as promised!"
If you don't already own this one, then I would highly reccommend that you check it out as I have had many unsolicited thank you letters for mentioning this program. It is a must have in every traders "Bag Of Tricks", Anyway… To read more click here…
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Key Market Reversal Levels for |
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GBP/USD |
EUR/USD |
USD/JPY |
GBP/JPY |
EUR/JPY |
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| Turning Point Down #3 | 1.5045 | 1.2848 | 95.00 | 141.66 | 122.12 |
| Turning Point Down #2 | 1.4794 | 1.2555 | 94.00 | 138.46 | 117.38 |
| Turning Point Down #1 | 1.4605 | 1.2257 | 92.88 | 135.00 | 112.86 |
| Turning Point Up #1 | 1.4393 | 1.1750 | 91.36 | 130.81 | 108.76 |
| Turning Point Up #2 | 1.4242 | 1.1500 | 90.50 | 127.75 | 105.00 |
| Turning Point Up #3 | 1.4000 | 1.1250 | 89.25 | 125.00 | 102.55 |
| Intermediate Trend Direction |
Down | Down | Up | Down | Up |
| Major Trend Direction | Down | Down | Down | Down | Down |
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***VERY IMPORTANT: If you are new to our forex market forecast service I urge you to get up to speed on how to get the most out of it. This will also explain what the abbreviations I use mean. To get all the details click this link: Here is a video that will teach you how to get the most out of this newsletter. TO VIEW CLICK HERE: |
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Filed under Blog, Forex Newsletter by Jeffrey Wilde
Comments on How low can the EURO go? »
Hey Jeff, glad to see ya back safely. Hope it was a great time. Any insights to what Europeans are thinking?
Hi Jeff, it's great to have you back on board :) I am 100% agreed with your "underline" tips above.
Its good to get away but were glad you are back thanks for all your help
Hey Bam, I didn't talk to any europeans about the economy directly but… Judging from the amount of people out eating and shopping it doesn't seem like anyone was too worried.