AUTOREFRESH 
Full-fledged QE back on the agenda
By Jamie Coleman || August 24, 2010 at 14:28 GMT
|| 6 comments || Add comment
Forget the nibbling around the edges the Fed did at the last meet….the recent data has the market concerned that a fresh round of full-fledged quantitative ease will be unleashed to try and cushion the rapidly cooling US economy. This has prompted a liquidation in the dollar across the board. EUR/USD is back above the 1.2700 level, now at 1.2713.
Elsewhere, Rehn says he fears a double dip in the US will hurt the EU economy….No kidding.
1.2725 is resistance for EUR/USD near-term with more at 1.2750/55. Stops are seen above both levels.
And how exactly is full fledged QE going to get people employed? interest rates really are not the problem
what are your thoughts on a move back to the highs at 1.33 or so? i think it might be in the cards
Sid – we can start talking about that once it firms above 1.2750 – until then the technicals are still clearly in place for EUR/USD downtrend. And the fundamentals don’t necessarily justify a strong upmove in EUR/USD except on short-squeezing.
yes i guess we best crawl before we run…..a close over 2660 is bullish…esp after the price action we’ve seen in the past few hours….ya i would imagine alot of ppl going to get caught who shorted after the 2720 break…lets wait and see
EUR in a downtrend – looks like a good opportunity to short this rally and target 1.2525
Well, I’m still a bear on euro too.