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The Fed and others are now of the view that the top in interest rates may be 5%. This is a significant change from last week when I was hearing of rate increases well in excess of this number. It is certainly bearish for the dollar. We are also hearing that Euro rates are likely to be...

Steve: Great trade my friend. Congrats on the call and the execution. Very nice profit indeed. I am not long as yet on the Euro. Didn't stay above the high long enough to be convincing to me. Again, key levels are yesterday's high and low. Good luck BLR

Just a quick note. I would appreciate any other views. It appears as though we may break out above yesterday's high. I will be long on a trade above 12195 with my usual very close stop. Be prepared for a short trade on a trade to the 12216 - 12250 area. Best regards

Good morning everyone, I have only a moment to scan the Euro because once again my day job is interfering with my trading. The key levels to watch I think are yesterday's high at 12193 and the low of 12149. A break above may take us up to 12216 to 12250. The 12216 is the more likely...

I have closed out my positions for now at 12158 (cash basis) . I have to be away from the screen for the rest of the day tending to my day job. Can't seem to keep ahead of the paperwork. Looks like the upside today may be limited, famous last words. Appears to be overbought in here. I will...

DRT How are you doing? What do you think about liquidating you current position, waiting for the reaction near the 12173/80 level (or sooner) and going long looking for 12300. I think you are right on the longer term view of the Euro once this correction is over. 1.1600 level is an...

sperksy: This looks like a good position. For anyone who is long the Eruo, you may want to consider taking yourself out or, putting in a very tight stop once the 12180 level is reached. There may be a sharp correction or at least, a consolidation. Best regards

Spersky: Sorry I made an error in my previous post. It should read: expect a correction in here because we are at a resistance level - 12130-/40 level. Should be short term.

Hi sperksy: I posted when I added a new position yesterday. Long at 12062 (cash). I placed a buy order for another position just above 12092 and it was filled I reached the office this morning. This was a key level for me. I expect a correction in here because we are at a resistance level...

Good morning everyone: The Euro has crossed the 12092 level as you can well see. Resistance: 12114/12118 - reached 12130/12140 - we are now in this area Target: 12170/12188 short term Data released this morning is bearish for the dollar. A report...

Good evening everyone. The Euro is trading at 12057 after reaching a high of 12073. It has successfully cleared the resistance at the 12050 area. I expect the Euro to reach the 12081 - 12097 area before a minor corrections sets in (it could reach the 1.2020 area before it begins to move...

DRT: The JY seems to just holding onto its current level at least on an hourly basis. After hunting around a bit I found that it appears that there are stops at or just below the 117.10 area. Makes sense I guess, the last low was 117.12. If that gives way we have a sheer drop (as you...

Well we have finally climbed above the 12050 area and I am long at 12062. First hurtle is 12085 (the slight congestion area just below 12092) and then, 12175. Had trouble pulling the trigger on this one after this morning's call but when the signal comes we must take it, put in the stops...

I agree so the only thing pointing the way are the chart patterns and identifiable support and resistance levels. Support/Resistance comes in at 1.2025 and 1.2060. More important on the downside is the 1.2000/1995 level. I don't see this being penetrated. Upside, after 12060 is...

Okay this is not what I had hoped for this morning, so I think I will take my head out of the cement mixer and wait for the 12050 level to be taken breached with some conviction. My view has not changed, just bad timing. I will look to re-enter sometime today. Dam!

Thanks for the pin-point market timing. :D All the best.

Thank you DRT: I have the ever present stop in place and willing to change my view at the first sign of passing bear raiding party. As always I appreciate your views. Best of luck.

I am long at 12053 on a cash basis. Target to raise stop 12085 to break even. Initial target 12092 then 12175 Good luck to everyone.

NY Empire State Index: Actual 31.2, consensus 19.0, prior 21.0 (revised from 20.3) Bit of surprise higher but I don't think this number will have much impact on the dollar except for the slight bounce we saw on its release. Big numbers are out later in the week. Net Foreign Purchases...

Well there wasn't much action either in the Asian or London sessions. I am not long the Euro but expect to be today. This is my take on the how the market looks. As usual please jump in if you think my take is wrong or, I've been dipping into too much prescription medicine again. As usual...