I am going to quote some comments by
1. “I’m not encouraged by the remarks of some of the leaders, who keep talking about protecting the euro as if speculation against the currency were the problem. Actually, a weak euro helps Europe.”
2. “When countries have their own currencies, they can deal with such shocks, at least in part, by devaluing-..Lacking that alternative, something else is needed. So now we have a euro crisis, which — to me at least — hinges crucially on that very issue. What makes Greek problems so intractable is the fact that there’s little hope for growth for years to come, because Greek costs and prices are out of line and will need years of painful deflation to get back in line.”
1. “ They don’t care if they have a sound currency. This means that they’ve given up on the euro, they don’t particularly care if they have a sound currency, you have all these countries spending money they don’t have and it’s now going to continue. It’s a political currency and nobody is minding the economics behind the necessities to have a strong currency. I’m afraid it’s going to dissolve. They’re throwing more money at the problem and it’s going to make things worse down the road.”
If we do not see a CONCERTED INTERVENTION by the leading Central Banks of the world during this week, we will see the Euro go down directly to the medium term objective of 1.1500 sooner than I had argued recently. Already we have come below the 1.25 low of last week, and that by itself looks ominous. We shall see.
if the dow is looking bearish. can curriencies decoupled? at all?
whats your take on the commodity currencies- aud/nzd and cad.
fundamentally sound economies.
appreciate your feedback.
I will try and post a comment on AUD/USD soon. Re decoupling, and other fundamental analysis, I would recommend you read respected market players such as Jim O’neill of Goldman Sachs, or Mohd EL Erien of PIMCO.
Hi Mr. Ramki,Can you please look at Dollar index (DX)? According to my count it is currently at 4th sub-wave of the 5th wave (one degree higher). Looks like 87.625 is the top of the sub-wave 3. It still has some distance to go on the upside before it comes crashing down. Would you agree? Appreciate your comments. I have been a very ardent fan of you and I have learned a lot from you.Thank youBallu
Let me take a look on Sunday when I return to the office.
Thank you Mr. Ramki,
On an alternate count it looks like extended 5th wave is complete.
Hi Ramki. My count is the EUR/USD is now at wave B correction isn’t it? following your chart.
Patt, Ballu, I have updated my count on EUR today