Just before Christmas 2010 I gave my yearly prediction as to how I saw the forex market evolving.
Those that read it heaped ridicule on me: “the dollar couldn’t devalue, it’s unthinkable, it’s the world’s reserve currency, you’re crazy”, “the Euro could never fall like that”.
Six months down the road, let’s take a look at how things really turned out.
The red line (USD) and pink line (EUR) are those I drew last Christmas, the green ones are the current situation on the 22nd of June 2011 (1 CHF=0.8360 USD = 1.2030 EUR):
The figures speak for themselves.