EUR/USD...What do you think?

Kastro_316

Kastro_316

Hey guys....SO, EUR/USD has hit quite a nice low, does anyone expect a major rebound?

So, is it going to keep going down, or is that just about enough :)
 
Dunno, but was eating my Alpha-bits cereal this morning, looked down, and strangely saw "StANd aSiDe" in my spoon. So I'm not taking a position at this level.

Cheers,

-Ivan
 
Quote from Kastro_316:

Hey guys....SO, EUR/USD has hit quite a nice low, does anyone expect a major rebound?

So, is it going to keep going down, or is that just about enough :)
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The market is currently directionless although I do feel that up up the preffered path for now as every Tom ,Dick and Harry is sitting short EURUSD. I'm long from current levels although we need a to get bit of momentum to start the dominoes falling. Greenie and Snow are up later which could get things moving although probably will have a more JPY impact.
 
I would have thought so too, CS, but nope!

Fortunately, I got out of my long on a bounce for 10 pips and shorted. And then....the bottom fell out.
 
Quote from csaunders:

The market is currently directionless although I do feel that up up the preffered path for now as every Tom ,Dick and Harry is sitting short EURUSD. I'm long from current levels although we need a to get bit of momentum to start the dominoes falling. Greenie and Snow are up later which could get things moving although probably will have a more JPY impact.
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It appears every Tom, Dick, and Harry is trying to catch a bottom.
 
Quote from Ikspec:

It appears every Tom, Dick, and Harry is trying to catch a bottom.
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l.l;p

Yeah - including myself:(

That is why stops were invented - for those times where you are wrong. I still feel we are close to an interim bottom although looks like it is determined to have a go at 1.20 before it blows off steam.
 
A major problem is the amount of options defending 1.20 at the moment. Some are expiring today, some tomorrow. By Monday the resistance level will be much less.
 
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