Back on October 7 we posted "Too Funny: Goldman Raises Target for Euro, Probably Sets Short Term Top (EUR/USD)":
EUR/USD currently 1.3935.To be fair to Goldman, the Euro did trade higher: 1.4280 top-tick on Nov.4.
This is getting to be a running joke.
EUR Top: Goldman Revises EURUSD Target From 1.38 To 1.55 ...
On Oct. 27 we posted "Say Goodbye to Euro Rally" (EUR/USD):
EUR/USD is currently at 13816 down .0043.Here's the history of Goldman's Forex team over the last year:
From the Wall Street Journal Europe's The Source blog:
The foundations for a euro rally are crumbling fast....
July 16, 2010
"Goldman's FX Team Validates Cynical Critics, Capitulates On EURUSD Recommendation ONCE AGAIN" (EUR/USD)
All that being said, the euro is oversold on a short term basis and could pop violently.
In the long run the euro is dead; the question is: can it last until it and the buck are replaced by some U.N. sanctioned world currency?
"And I, for one, welcome our new insect overlords"