Because the 11 wk average comes in around there. This is how I "roll" Just part of my method. I do not see the end of the down move until the low 1.20s, though. That's where I see this shaking out in a few months. But there will be bounces to get out and back in again.
Ivan What makes you think we'll see the low 20s in the next few months? Any particular reason? I am asking because that's also the same target I have for this downmove. Regards.
I have a host of fundamental reasons, but mostly it has to do with the situation in the EZ being far worse than people are taking into account, a possible split to the EU (wherein one or more countries leave the Euro) in the next few years, and the US economy climbing out of it's recession slowly, causing a contraction in the spread of rates between the two "countries".
Closed at break even as the picture setting up is not attractive. Will look to re-enter and sell into strength.