Chinook's EUR/USD (E/$)Mumblings

The low number was priced in, and the housing number surprised everyone (highest in 12 years), but the market is on Fed Watch. I'll post the reason when I get to work, as the document I found is there on my laptop.
 
Nice way to stay with the short.

I'm bummed cuz I shorted gold last night and woke up to myself getting stopped out near the high of the move -- figures the one day gold starts ignoring the dollar, ah well :).
 
Thing is, I'm not sure I'd consider the down move over. My target at the moment is 1.2815

At that point, we'll reconsider. But if the Fed is indeed going to be raising interest rates like people think, and the ECB isn't going to be, expect this to last a bit (summer, etc).

This, of course, is my personal opinion only. I have not checked with my Alphabits to see if they spell "LONG USD" again.

Cheers.

-Ivan
 
I figured that you would be holding this one longer term.
I usually take profits and trade everyday. I keep short profit targets 20 pips. So until I can get my account build up I thought that this would be the best strategy. that way I'm almost guaranteed to walk away with 20 pips everyday. All I have to do is double up on the lots and go from 50,000 - 100,000.
 
Don't know whether it will hold, but todays low area of 1.2920 is the 61.8 retracement of the whole leg up from:
127.89 area to 131.44

It looks too rolling top like on the hourlies to hold
 
Durables number was bad, market shot back up. But once again, I'm in this longer term. Next week, as the Fed raises, the market will resume the whole idea of rate differentials. Perhaps even before.
 
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