Euro Dollar trading plan
Euro Dollar trading plan (using a weekly chart)1) Purple arrow scenario = We are way oversold, EU zone manages to get its act together, PIIGS are able to show signs of growth .... yeah, right ...2) Black arrows scenario = Still not oversold, and a lower Euro is needed to boost exports and increase tourism in the PIIGS countries ....It seems quite simple to use these kind of simple arguments .... Try this exercise; What in your mind would trigger a purple or a black arrow scenario ?Yes, charts have their limits ....We now need a major "event" to trigger a break out (up or down)Gut feelings ? EU zone is weak, with weak leaders ....PIIGS zone is VERY weak with no growth at all !The ECB is way "too political" and not able to decided on their own ....I was hoping for parity in order to save the PIIGS countries ....But then again .... "Expect the unexpected" is probably deal right now :)
