CNBC, 9 Feb 2011: Euro to trend lower
Mario Singh, Director, Training & Education at FXPRIMUS.com, forecasts euro-dollar will move down to $1.32. He explains why and shares his outlook for the forex markets, with CNBC’s Karen Tso, Bernard Lo and Martin Soong.
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Hi mario,i have watched the video just now,in that case you mean that your trade call for eur/usd will no longer hit 1.37750 instead now will go down till 1.3200??
Hi Chris,
Great question.
The answer is: time-frame.
Short term, I still see EUR/USD going up. Medium-term, I see it coming down.
As an example, a trader can short EUR/USD NOW and another can long EUR/USD NOW. Both can end up making money, depending on their time-frame and exit points.
Hi Mario, Ur recent call on euro – 1.32, Aussie – 1.05 and swissf – 0.99 was however a surprising call to me. I was wondering the post tat u state that china tightening of the inflation by raising rates will hurt the Aussies. The correlation is not price in now?
Rgds
Zzz
Hi Zhang,
The rate hikes by China (total of 3 in the last 4 months) have not had the desired outcome the Chinese authorities had expected; which is to tame inflation.
Many traders have already priced this in; and still expect China’s economy to roar ahead.
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