Chinook's EUR/USD (E/$)Mumblings
- Thread starter chinook
- Start date
I like being right, but now that I've averaged myself into a small profit (by adding to "losers" - wohoo 
) I will just have to be patient for this latest ploy to fizzle.
Maybe we'll go around 1.3010 again on the EURUSD - that's very probable as the slide has no big substance this night - remember that there is not a lot happening before 06-07 London time.
) I will just have to be patient for this latest ploy to fizzle.Maybe we'll go around 1.3010 again on the EURUSD - that's very probable as the slide has no big substance this night - remember that there is not a lot happening before 06-07 London time.
Since this came out last night, I'm guessing not
. But even if it was coming out tonight, the Euro rise has always been a USD weakness story. Lately, the market has been focusing on the twin deficits so USD positive #s don't even have the expected effect. Trade tonight seems to be dominated by fears of BOJ intervention (and maybe a conclusion that China is going to loosen the peg sooner than planned). Lets see if this USD optimism holds up through the European session.TRADERguy
P.S. In an earlier post I said that the Japanese stock market was open. Apparently not, Bloomberg just forgot to designate it as closed.
Edit--but the Hong Kong, Seoul, and Sydney exchanges are up nicely.
Yes, it's importance has risen during the last week. I think that current levels will be good for some whipsaw or fast slide action later on, but without the asian session in full vigour we might see the touted profit-taking fears becom triggered on the back of a unexpected number - or a number for good excuses.
I'm buying EUR here in anticipation of the European open. This move down is bullshit, just knocking out a few weak EUR longs. Spec position is very very heavily long EUR. When the flow is light, like Japan holiday, good chance to push for some stops to the downside (which they got). My guess is over 1.31 by close of NY tomorrow. Neal.