After what seemed an eternity consolidating between 1.42 and 1.50, the EUR/USD *finally* broke resistance over the 1.50 this past couple of days, reaching all-new highs.

Who says the crumbling dollar is bad news? Not traders who've been on the right side of buying the Euro in recent months... here's a chart:

http://www.tradingtalk.com/charts/EURUSDBreaks150.gif



Anybody else trading it? Looks like a great chart.

-ken

Hello Ken,
At what level will the euro end its uptrend?

What do you think of EUR|GBP for 0.7760? EUR is very strong and GBP in a southtrned thus what target do you see in EUR|GBP?

My target is 1.5500 for the 3M cosolidation, but I am pretty sure EUR will reach 157.00 as well.

Ken,
I am based in the UK and I find your market analysis about currencies very informative and enjoyable especially your webinars. Will you please do more webinars about currencies, perhaps you could post a daily webinar briefing for currencies on a daily basis if this is possible. You are one of the best in your profession, I have great respect for your knowledge and you are a very helpful and nice person.

I have some mistakes in my post surely to be ashamed of:

I am targeting the EUR|USD to shadow 1.5625 [for 3M consolidation 500p and Gann levels at that area.

What would you think about the EUR|GBP? I have taken it as it breached at 0.7638 and I am targeting 0.7760 for the diagonal head and shoulders - works great and the pounding EUR vs GBP

What do you think?

H4 forecast
Ascending trend, but there are some signs of trend turn:
1) if the channel "C-C+" will be broken through, then level 1.4955 will become target

2) if the pair won't be able to go down lower then level 1.4910, then level 1.5580 will become its target
cancelation this scenarion if will be able to go down lower then level 1.4910

3) if the pair will be able to go down lower then level 1.4910, then level 1.4650 will become its target
cancelation this scenario, if after passing level 1.4910 the pair will be able to go up higher then level 1.4985

I believe EUR/USD will go to 2.00!

Hello Ken,
Your graph shows good signals.The dollar fell near a record low against the euro yesterday yet today it steadied due to investors' belief that the troubles of the U.S. financial sector are not over yet. This provided support for the euro. The dollar did recover to some extent following better-than-expected results from large financial institutions such as Citi, JPMorgan Chase and Bank of America, yet investors await further earning reports. According to the news report given by http://www.finexo.com/ the recent U.S. credit crisis has affected the housing market as well as all financial activity and investors' expectation of an interest rate hike before the end of the year to fight inflation are withering, thus further hurting the dollar's state.
The 4.25% rate offered by the European Central Bank makes the euro much more attractive in comparison to the Fed's 2%. Senior traders believe that the euro will dictate the dollar's trend and they expect the euro to keep rising since it is now benefiting from Japanese investors looking to make a profit on this high-yielding currency.
The embattled mortgage-lending giants Freddie Mac and Fannie Mae are also likely to decrease investor confidence in the dollar, another encouraging factor for foreign investors to shift their funds from the dollar into the euro.

As no major data releases this week, i expect the market to move in tight ranges. There was little change in the euro today, and it was eventually traded at $1.5925.
Good Day!!