LonEagle, what do you see as the "what ifs" developing this time that would significantly reverse the dollar rally against the euro? *beads of sweat form while sKaLpZ stares at his euro longs* Surely martians landing and blowing away half of North America would reverse it.
with oil prices climbing (source) doesn't Europe need a stronger euro to offset the higher oil prices? and if they don't got it, let's say oil climbs to $60+, that would be... bad (for the EU) no? this is great, King Fahd sneezes and crude goes UP a cent. just how volatile is this world??
Here's the deal. We seem to be in a definite euro-bear market sentiment. Whether you wait for a higher price levels then simply short, or if you scale in (don't overexpose!) short, anywhere the euro climbs to, it is highly-subject to sliding back down on fears and uncertainties. I've been in a few other euro-bear environments but, at least short term, this is the most well-defined one. Breaking thru 1.2200 is a definitive measure. I'd say, keep short and you'll do well - the euro has nowhere to go upwards-wise, not for very long anyway. The Coin
A very large percentage of European retail gasoline prices is government tax, so increases in crude oil prices have less of an effect at the pump then it would in the US.
agreed. covered half of my short EUR position out for a nice profit i'm aiming for 1.2000 - that's when i see some real support
I think the market's testing euro strength. everytime it fails an upward momentum test or to hold a level, we get a 25 to 50-pip spike down. I think we're gonna head down past 1.2200 again. market: 1.2266.
Lol, it didn't hit my tp and instead plummetted back down below my long position. Bollocks, I'm going to wait it out till next week now. Wanted to claim at least 60 odd pips but hey ho. Did you close and take profit?