Originally Posted by Peterw
Someone is propping up the EURO, not sure exactly who (People are mentioning the ECB, the Swiss, Middle east, Chinese - who knows! - interesting article here
). Fundamentally it should be falling off a cliff and technically it's in a down trend so the next big wave down should be soon. People are speculating that this upward consolidation is just a push up to a good resistance level to short from, we'll see..
But, isn't all this Euro talk relative to the U.S. Dollar, or U.K. Pound? This is why I always end up measuring currencies against gold to get their value. For that, right now, give me the Swiss Franc (though didn't they recently announce an intended inflationary move?).
As for the Euro being propped up, my ego says that what's doing that is general ignorance of fiat currencies.
Gold and silver look like good bets, I'll be going into physical bullion just as soon as I get a new contract whenever that is. Careful of silver though, it's quite manipulated by some big names who have the volume to move it around to where they want it (JP Morgan or Morgan Stanley? One of the 'Morgans' amongst other names...)
Indeed, and the volatility kills me, sometimes. I have to keep telling myself "long term, long term, long term..."