For The Love Of Port

Tsipras and the parliament were in a damned if you do, damned if you don't situation. I think ultimately the Greeks need to be able to print their own money, but the pain is up front as opposed to being delayed by this action. I'm surprised they weren't even prepared to return to the drachma as all the drama unfolded.

We're seeing quite a narrow range of movement the past few weeks from 1.085 to 1.105 lately.

Roy Hersh wrote:We're seeing quite a narrow range of movement the past few weeks from 1.085 to 1.105 lately.

Just looking at a weekly chart, this appears to be a consolidation pattern happening. The upside resistance is at 1.125 or so. Keep an eye on that level. The downside support appears to be around 1.03. That is possible, but an upside breakout looks more likely, though there's no telling how long the consolidation will drag on before there's a breakout.

1.10326

Roy Hersh wrote:1.10326

That was a quick swing down from last I looked last week at 1.09..

Andy,

It was higher than when you looked, not lower.

Roy Hersh wrote:Andy,

It was higher than when you looked, not lower.

I'm an idiot. That's what I get for a quick look while multitasking at work. I thought it was 1.03. Opps lol


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Please, take Your eyes of the Euro!

Buy some Greek Drachmar Instead.

A Dane worrying about inflation

Allan Engelsted Laurents wrote:Please, take Your eyes of the Euro!

Buy some Greek Drachmar Instead.

A Dane worrying about inflation

The Euro looks like it wants to go higher, given that the Fed is more reluctant to raise rates than previously assumed. 112.50 seems to be the resistance level to watch on the FXE chart. Looking further out, 120 seems like the next big resistance level.

I'd say it will be 1.15 before it hits 1.10 again. Glad I traded $ for Euros for our tours at the right time this year!

Over the past week, the Euro has been up and down between 1.11 and 1.13 ... now sitting at 1.12715 and has yet to go above the 1.15 point, yet. So will we see >1.15 before we see <1.10 again?

Today's decision by the Fed to hold the lid on interest rates weakened the dollar vs. the Euro which is now at 1.142 and likely to breach the 1.15 mark this week. We shall see.

112.50 is the level to watch here on the FXE chart (not sure how much the price differs from the actual Euro). It did breach this level for a couple of days before retreating back below it when our stock market cratered in late August. I see downward pressure over the very near term, looking at the Thursday rally that was surprisingly wiped out on Friday.

30 Aug 2015 21:00 UTC - 29 Sep 2015 21:54 UTC
EUR/USD close:1.12508 low:1.10959 high:1.14545

That's pretty tight for the last 30 days.

And it has remained in that range since then. Currently: 1.13408

1.11377 at the moment.

Going down: 1.10179

Well, back under 1.10 ... right now, 1.09398.

Roy Hersh wrote:Well, back under 1.10 ... right now, 1.09398.

Can I book my 2017 trip now?