The most traded financial instrument in the world is yep the EUR/USD almost a $1 trillion a day. Anyway just wanted to show the daily long term chart of the Euro and it again made new records. Iniintay ko na lang na oil producers would say stop we don't want to be paid in USD anymore since its becoming worthless and worthless and would ask for Euro as payment. Also take note a lot of central banks have been buying Euros recently hmmm I guess they are starting to diversify their foreign reserves.... So if you're heavy in USD I encourage you to assess that position and think of switching to the Euro instead or some other currencies like AUD or CAD. The USD is going nowhere but down.

DISCLOSURE: I am long Euro and have been for a couple of years.

http://waketrex.com/blog/2007/10/30/will-filipinos-shift-to-euro/

Again I just want to say that if you guys are heavy in USD be warned... Own Gold (or silver if you cant afford Gold), own some Euros for liquidity but stay away from the USD. Me personally konti na lang USD ko and I am thinking of converting those to EUR as well given the next EUR pullback. The US is really bankrupt. The only thing that is making the USD still floating there and fall and not fall flat in its face is because most things are still priced in USD. Thing is that could change and it will likely change since people don't wanna sell their commodities on cheap paper like the USD. Meanwhile the Fed keeps on printing and printing money.

GOOD LUCK TO ALL OF US!

The Euro again another record high against the cheap greenback. The synthetic high was 1.4577 (back when the Deutsch Mark was still around) and now Euro broke 1.46 after comments from a Chinese political adviser mentioned that they should diversify their 1.43 trillion USD foreign reserves into other stronger foreign currencies. Although he didn't say exactly Euros its just common sense na Euro will be a big beneficiary since it is the 2nd most used currency.

I am still waiting for that pullback to place my last batch of USD and forever I say goodbye to the USD

how do you say good bye to your USD? I don't know of any institution that will convert USDs to EUR.... Does banks offer that?

Not Philippine banks no... Sa UBS po sa akin in Singapore

But there are underground Euro traders here dami dyan sa Binondo black market traders but don't expect their rates to be very favorable....

But you said it well there are not a whole lot of Euro investments here but at least to those with the capacity to do so I urge you to dump the dollar.

below is my short term target for EUR/USD

1.4796, 1.4907 and 1.5074