Quote from ae_trading:
EUR/USD heading towards another test of this resistance around ~1.333. Wonder if it will break up or down. The down dips keep getting smaller so it seems a larger move is on the way.
Thoughts?
ae_trading


.......agreed..just steps and stairs....min leverage...in for the long hall....no where to go until God knocks.....swear I heard rattling last night....as far as trade/Thailand goes...that's all they they do here....they will sell you anything...I mean anything.....don't be blue horseshoeQuote from Gringinho:
I'm scalping this, but being short 1.3280s is no problem if you can take the heat, and have a longer time-fram for the trade. Sure you could go hunting for that peak, but it will mostly cost, if looking for highly leveraged shorted tops - and then seeing a better peak approaching. Better enter with a small position and add when it looks like a winner.
edit: For today, Thomson notes that there are bids and an option expiry at NY cut. Some bids at 1.3275-85 as well.
BOJ/MOF has been speaking to dealers, inquiring about flows and sizes - which has capped the USDJPY and added to the EURUSD melting. Reports say that BOJ ar satisfied with the effect for today.
Rumours about ECB-BOJ coordinated intervention talks. Bloomberg guests tipped 100 USDJPY and 1.40 EURUSD as pain thresholds for intervention. I think that a quick 1.35 would be just as plausible. Longer term USD positions 'soon' seem reasonable as USD is getting very undervalued; but Bush needs to fix his mess a little - and finance more warfare.
