1. Hello Guest Do you know binary.com offers exclusive $20 No Deposit Bonus for FX Binary Point visitors? Click here to sign up

EUR/USD: Druckenmiller goes short again; Target of 0.80 eyed?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 4, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Joined:
    Oct 7, 2015
    Messages:
    27,524
    Likes Received:
    0
    FXStreet (Bali) - Stan Druckenmiller, renowned top trader, and the master mind behind Soro's Quantum fund trade that broke the BoE in black Wednesday of 1992, says he is shorting EUR again.

    Druckenmiller's intimate market views went public this year

    Druckenmiller spoke at the Lone Tree Club on January 18 2015, and his transcript, which was supposed to be private, got leaked and it went absolutely viral. In that transcript, which provides A+++ insights, Druckenmiller suggested a EUR/USD target of 0.80. If realized, that would represent a 3,000 pips from from current levels.

    EUR/USD: Realistic to think of a 0.80 target?

    Druckenmiller's view on EURUSD in a nutshell, when he was last quoted by Bloomberg, is that back in 2000 EUR/USD was 0.82, and comparing where EU is now vs US, Druckenmiller does not think EU is in better shape than US. He also said that it would be almost unprecedented to see such a policy divergence (ECB vs Fed) with a trend that only last 10/12 months, instead, he notes that at a bare minimum, the EUR/USD trend should last 2 years barring any major Fed black-swan announcement. Earlier in the year, Druckenmille said that EUR/USD finding bottom was very unlikely, he was instead looking for a pause (wash), squeeze (rinse) and continuation (repeat).
    For more information, read our latest forex news.
     

Share This Page