Heh...I shorted at .1850ish. This rally is getting way too carried away. The market, as usual, is being the emotional maniac that tends to rethink itself before long and go "did I just do what I think I did?" Result usually is a relatively large retrace. Of course, it could be irrational for far longer than my stop can hold out!
yeap, tha market was crazy yesterday. I hope you are alive guys. I see some reasons for the rally we could see yesterday: 1) weak existing home sales 2) nobody wanted to buy dollars before ECB interest rate decision 3) the end of month and profit taking Now I wait the interest rate to be left at 2% and downtrend should continue, I hope. Can anybody predict the interest rates with STIR futures? Here is a link for eurodollar contract, 6 month, march http://www.futuresource.com/charts/charts.jsp?s=EDH6&o=&a=D&z=575x300&d=LOW&b=CANDLE&st= does anybody use stir's?
Looks to me like dollar wants to retest the 88.50-89.00 level. Seasonally Nov is a moderately strong month for the dollar, however Dec is usually very weak - esp weeks 1 and 4 (see table below). Disclosure: I'm long dollars but praying for short signal.