Replies to post #4936 on FOREX TRADERS

[Mister Lava]

I totally agree that the ECB hates what is happening to the EUR/USD. Look, in just 1 year's time the year has gone from 1.1600 and has hit all the way in the 1.30's just in the last 365 days. You all say the ECB won't let it go to 1.30 again, but there are some factors they cannot control. The ECB never wanted the EUR/USD to go past 1.15 but look where it's at now? Did they stop it from going past 1.15... hell no, they couldn't.

And yes, I also agree that it is terrible for the rest of the world when the USD is weak. I am not denying any of these facts. But again, the Fed and ECB can only do so much to keep the value of these currencies in check.

And if the Fed really wanted to cool this pair, why are they considering dropping interest rates in March, and if the ECB really wanted to cool this pair, why are they thinking about raising interest rates? These changes are only going to make the USD weaker and the EUR stronger.

Yes, I believe the EUR/USD will retrace in the coming weeks. It has to cool off. But longer term, I am 99% positive it's moving to 1.30.

And no, I am not a laid off Ford worker. I trade Forex full time. I make 20-30% profit return on all of my entries per week. That is how I make a living, by swing trading and sometimes doing day trades. But I am currently holding a long from 1.1925 which I plan on selling when it hits 1.30. This entry will set me up financially for the rest of my life.

P.S. When I took that 1.1925 and decided to hold it, people told me I was absolutely nuts and that the EUR/USD would never go past 1.2500... guess they were wrong...