Here’s another short investment video from INO.com. It’s another clip that shows the weak Euro, giving us a peek at how it’s been behaving recently. Technical analyst, Adam Hewison of INO.com is quite convinced that the Euro will eventually fall to equal the US dollar: e.g. 1 Euro = 1 US dollar. And if you check out the currency chart in the video, you’ll see just how deep the slide has been for the Euro over the past year.
It seems that as soon as the year turned, things went south for this currency. So let’s take a quick look at how things have shaped up for it over the years: in mid-2008, we saw the high of the EURUSD at almost 1.60, thanks to the strength of the Euro — it was a time when many Americans, including myself, lamented the great bargains that many foreigners were enjoying upon visiting our shores. Everything back then was so much cheaper in America; beyond our merchandise, real estate was also available for a song.
While our real estate market hasn’t changed all that much, the currency exchange situation has. Nowadays, the EURUSD measure is now at 1.20, with the likelihood of it falling to 1.00. The last time this has happened was in 2003, if you can believe it. And it is also possible that this market will stay quite oversold for a long time. It’s happened before. The weakest the Euro has been against the dollar was around 1 Euro to 83 cents, and the way things are going, there’s the potential that the currency measure will be headed down even further in the near future.