Sunday, March 27, 2011

Euro / US Dollar -

I am trying to figure out the elliot wave count on this pattern. The news around this pattern today:

Germany May Pay 35 Billion Euros for Euro Rescue, Die Welt Says

Euro Weakens for Second Day After Merkel's Party Defeated; Dollar Advances 

Euro Extends Slide Against Dollar, Yen as Leaders Divided on Bailout Fund





2 comments:

  1. I think the ECB will raise the rate once, however it is diffcult to argue that a series of rate hikes will follow given the current market environment.

    ReplyDelete
  2. Right, the ECB is facing the dilemma between inflation in Germany, France and the rest of the "healthy" european union countries and the inefficient PIGS economies, in which a rising in the rates is a problem because that worsens their defficits.

    ReplyDelete

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