FXE long for a bounce

Discussion in 'ETFs' started by Catalite, Feb 26, 2010.

  1. Catalite


    The oversold FXE may be good for a little run here. The 5-day RSI didn't confirm its recent low-reversal day on 2/25. The currency traders are very short and may want to cover to lock in profits. The FXE is unusually strong today. I think it's good for a couple of weeks for a countertrend move.
  2. Yeah - I have been getting long below 135. Think that once the Greece/EU gets a little calm down we could see a slight move back up into the 140 area.

    I have on the 135 / 138 / 140 butterfly and also long below 135.

    I think Germany has too much at stake and they certainly don't want to see volatilty.