| Author |
 Replies: 9 / Views: 1,768 |
|
|
Valued Member
Cyprus
349 Posts |
Hi I wander how low it will go? Parity?  Thanks, Ozzie |
|
|
|
Pillar of the Community
United States
4000 Posts |
Good question. If we knew the answer, we'd all be rich.
Having recently pierced it's 10/08 low of 1.2330, I can see it going to 1.19 before finding serious support. Should that support not hold, it could retrace further and test the previous 11/05 low of 1.1640'ish.
I am currently short with an initial target of 1.19, but will cover on a 1.20 bounce.
|
|
Pillar of the Community
United States
3098 Posts |
 The number to watch is definitely 1.18 or 1.19, which is the rate that the Euro first had against the dollar when it was introduced as a currency in 2002. I think as soon as it reaches that, banks and currency traders will have their software activate and buy, which could give it a slight bounce... or... if it crosses that threshold, it will activate a massive selloff. D: European currency is such a big part of my collection. I'm losing a lot based on the exchange rate. c'mon Merkel... |
|
Pillar of the Community
 United States
5953 Posts |
wd1040 you are not loosing or gaining anything until the moment you decide to sell...
|
|
Pillar of the Community
United States
2661 Posts |
You guys got more guts than I do if your trading currencies. I have never gotten the hang of it.
|
|
Valued Member
United States
287 Posts |
well... for people in the US, it would be great for it to go low enough that the euro and the dollar are equal, then we will have more buying power in Europe.
|
|
Pillar of the Community
Philippines
1156 Posts |
if this were a contest post, I'll go for 1.1850 by mid June
The EUnion is just too financially extended with only three financial powerhouses in the group.
|
|
Bedrock of the Community
United States
17884 Posts |
I don't see $1.18 as being anything special. True that was the original figure, but it has been much lower than that
|
|
Pillar of the Community
United States
2734 Posts |
I do wonder if grumpy Germans will start making big noises about recreating the Deutsche Mark.... |
|
Pillar of the Community
United States
3098 Posts |
haha anyone mentioning a country going back to their national currencies reminds me of this vid... Don't know if youtube links are allowed, but search for "Michael McIntyre- Royal Variety Performance 2008"
At last look, I think 57% or something of Germans wanted to keep or return to the DM. I think from an economic standpoint, that's a good choice. The Euro is basically the DM, with the added strength of the Franc but all the bad stuff from the PIGS countries. I'd like if they all went back to their respective currencies. Maybe then my expired notes will be worth something again! And oooohhhh new notes! :D
|
| |
Replies: 9 / Views: 1,768 |
|
Posted 05/19/2010 2:44 pm
