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Yes, tomorrow as in Tuesday.

Very true. But unless some major announcement/news event happens, it's unlikely people will be taking new positions until tomorrow's FOMC meeting.

Still short from 1.33 - but not for long. I'd expect a rather swift recovery when FOMC's statement tomorrow still has the word "measured" in it.

What is the easiest manner in which to trade gold? Is there a fund? A particular index? I'm a forex guy, looking to do some gold hedging. Thanks in advance for help. -Ivan

I think Trade-ya is a long term player. And if he is, I think he's right. Long term, buy Euros.

Welp, I entered a short at 1.324 as well, with thoughts of the range. Also took a larger EUR/GBP short, as Sterling may see a rate hike in a week (word is getting louder about it). Plus holding that pair is nice with the yield.

Alright now...this rally is just a tad bit overdone. Market taking it to extremes as usual.

The market was just too long. Once again, it wound itself up with BS rumors that NFP would be like 300 or 350. And once again it was "disappointed". Heh...Thompson even brought out the Bin Laden goodie this morning. So yeah, range baby. Range.

Where are the folks that said 1.45 by end of 1st quarter?? Where are they? :) I'm curious if we're going to start hearing chants of 1.20 now from the same folks.

Hope so!

Heh..ridding the world of evil.

What happened to all those "Euro- next stop 1.40" people? They vanished into the woodwork.

Yep. Luck is part of it.

Closed EUR/JPY at 135.92 for 62 ticks. Since 136.12 is the Jan 12th high, and 136.4 is the downtrend line for 141.61, that's about as good as I think it'll get for a while.

Just went long on EUR/JPY at 135.30. Way oversold on the daily, and all this Issing crap can't withstand forever, methinks. Stop at 135. Target - ? -Ivan

Right. Snow's comments have "captured the market's sentiment" just because he happened to say them at the same time the market was going in the dollar's direction. Analysts are always good for a chuckle.

I'm not sure if you're confirming or questioning what I said. My point was simply that this quote from FXstreet was silly. To say the dollar moved because Snow said the US had a strong dollar policy is foolish. Snow has been saying that forever and it had no effect. In otherwords...

Gegggo, Agree with all that you said, except for the "I feel sure"comment. Don't know how you can feel sure in times of market irrationality. Remember: A market can stay irrational far longer than traders can stay liquid! I hope you're right, though. I'm long on Euro at 1.304

Best quote I read today (from FXstreet): "That sent the dollar lower, but the greenback quickly recovered, partly on remarks by U.S. Treasury Secretary John Snow that the United States supports a strong dollar." LOL... Yes, it was all Snow's doing. What happened, you see, is that...

I hear ya. It's the guys that said by the end of the month that I find amusing.