Well, this could be time for a correction at last. This looks like a major bank selling. Also I see signs of weakness on charts. I am thinking about going short now. But still usure for 100%. There could be one more move up within 2 days. What do you guys think? Short it or not?
It's not major bank selling USD. There's an Asian CB selling EUR, but not USD. No, it's momentum funds, some models and a German name mixed in for good measure. That's why I find it amusing. I'd never short it if I thought euro cbs were behind the move. I don't go up against that type of maneuver.
Ok, I had a hard time today, the EURO was kind of weak in the morning, short rallies, then down, then in the afternoon, it went Bezerk! I missed about 50 or 60 pips. Anyway I fought hard for the plus 25.
this is exactly what I meant. A major bank SELLING EUR. I am short at the moment. I think I will keep it until tomorrow with a very, very tight stop... cheers.
Well, I closed my shorts now. It doesn't look too good. Booked... +3 pips. Wow. The market doesn't favor shorts.
Maybe, but I went short again at 1.21. We should see some squaring of longs ahead of NFP tomorrow. Even IFR is now saying the run up looks a bit overdone.
The ISM report couldn't even carry the Euro higher. It seems the Euro is artificially high right now from the FOMC minutes. Of course the jobs report tomorrow is important. I'm short at 1.2108.