The EURO

I'm still holding long. Target is now 1.2200.

I have also taken a short position in the USDJPY. Target is 112.20.


Good luck everyone.

 

What makes you think the EUR will reach that?
-Kastro

 

Sold the failure at 1.2080 (sell price 1.2076) with stop at 1.2130. I guess I'm achin' to "get my head ripped off".

 

Its hard to put into a written explanation. Just my methodology and studies. I actually have the Euro at a key support level now and it looks like a move up to the 22 area is very possible. Here we will see some major selling as we approach and a good chance of a down right reversal. I will try to be more exact as time nears. I actually think there is a good chance we will breach this area and move up even more.

My view is supported by the Yen also. If you look closely at this pair, you may find a big picture move down looks very possible.

Right now the Euro is wedged in and will soon move out strongly. I am not claiming to know for sure. I am just a trader, not a fortune teller. If the current support level fails, I will exit.

I am actually a short term trader. I take many trades per week. I am just trying to ride what I see for the time being.

Good luck and good trading.

DRT

 

I think this may be a very good short term trade. Good luck.

 

I think it is continually amazing how price seems to return to the "value" area just in time for the dealers to scoop up orders at the NY open.

Is it just me??

 

Not just you

 

Gold just went to new 20-year-highs with EC and BP closing on recent highs. The Chinese might be giving US a lesson on the golden rule.

 

Today is another day....


A slide in US bond yields is helping to underpin the EUR/USD this
session. The US ten-year bond yield has dropped from 4.42% this morning to
current levels of 4.369%. This has seen the US yield spread over EUR bunds drop
from 120 bp this morning to current levels of 116 bp. There is no doubt that the
recent intervention by Asian and even Latam central banks is helping to underpin
a bid in treasuries with the US Fed custody holdings rising over $12 bln in the
last week to new record highs of $1.535 tln.
US two-year yield spreads over EUR bunds have dropped to 151 bp today, down from
155 bp yesterday and 162 one month ago though the spread still remains above
levels of 78 bp from one year ago. EUR/USD currently trades at 1.2085/86.

 

You're confused. Large central bank treasury purchases drives dollar higher. Even though foreigners now own the US, US debt is still priced in dollars.