Dealer: Euro

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To a believer in sound cash – ie, gold – the concept a paper foreign money can ever be excessive-high quality is fatuous.

The period of quantitative easing has strengthened
this mind-set,
however even now, some currencies have larger attraction than others. The Swiss franc continues to look sturdier than the euro, for instance.

I wrote on November thirteen – when the euro/Swiss franc change fee was 1.342 – that the only foreign money was more likely to weaken additional and make new all-time lows.

It started a steep decline six days later, dropping under its earlier report trough at 1.276 and really almost reaching my subsequent goal at 1.2381.

Regardless of rallying recently, I don’t consider the euro/Swiss franc’s descent is over.

I might nonetheless be eager to promote euros and purchase Swiss francs on a reversal occurring round both the 21 or fifty five- week exponential shifting averages, concentrating on a drop to new lows.


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