Monday, November 15, 2010

EUR/USD for a swoon down?

It looks like Euro is catching a cold. Whether due to the already discounted Fed’s 600 billion dollar splurge over next many months or Ireland or what not may be the reason, USD seems to want to take off, at least in a short term horizon.
As is usual eur/usd topped out by the time the fed and other news came out and now seems slated for the slaughter house having fattened up over last month.
I guess a target in 1.3300s looks plausible.
Let us wait and watch.