My EUR/USD System that was long this morning at 1.2173 just took profit at 1.2191 and went short there. Are there any other traders who share the same view? regards Tacmot
Hey, Tacmot. Appears some of this USD mushiness may have to do with speculation on the US interest rate, and fear among carry traders. It seems speculators might be betting the US is going to stem rate hikes while carry traders are fleeing their worthless trading strategies and systems (example: the recent 300-pt spike down in AUD/JPY). At best, they're both floundering trading structures, beneficial to those who take the other side as long as they know what they're doing. So, shorting EUR/USD at these levels is a good view as long as you have a viable escape mechanism in place so you don't get too badly damaged if the market should continue trending (upward). I think there are very good probabilities of a solid retracement in both EUR/USD and AUD/JPY. Though the market is confused at this point because of... conflicting indicators. x 1.2199 84.23
IMHO the mkt is very long euro, they are pushing the 1.22 level and failing. IMHO i think euro is going to fall 150 to 200 points next week after failing the 1.22 level again on sunday. The mkt repeats the same mistakes over and over. I have been in and out all day long, 10 points here 10 points there. I just went short at 1.2198 and i am going to keep that position.
I have maintained my short EUR/USD view over the weekend. Have a great weekend everyone and best of luck trading for next week, tacmot
Never a truer statement has been made! Have a good weekend, everyone. And thanks for your money this week. Ex
wow this market can`t even get beow 1.2190 on the close. I squared up, i think we are going to get one more push above 1.22 on Sun. I will look to sell then. Sometimes it not too smart to stand in front of a speeding train.
The futures volume accompanying the move up has not been anything to write home about. I would tend to agree that a surge may be coming....I hope not cause I am short a while back.
I did not like the close, the market may not be ready to come down just yet..... Sunday I will look at things again....