EUR/USD
- Thread starter KrispyKreme50
- Start date
I know you're probably asking someone else but I think it all depends on the new patterns we'll see. I've noticed that sometimes the very latest patterns you see are the ones you'll see for the next hours, possibly days, weeks or even months. So, I look forward to watching new patterns emerge this week (manipulation patterns).
Held 2620's cost basis LONG into the weekend and I will give this trade about 24 hours from Sunday night re-open going forward to play out. If this does not get much traction by Monday evening then I will thin it out and get ready to bail. Next targets at the .2825, .2875, .2950, .3050 levels. I was working DAX short positions all Thursday night into all day Friday, so I did not mind continuing to work a LONG EURUSD position after what seemed a pretty good potential short term washout move to the lower .2500's last week.
EURUSD above the .2860's area may get some legs for a short term continuation of the bounce so far. Any trading back above the .3100/.3200 area may set up for a very nice shot at looking for SHORT entries again (if the EURUSD can even get back to those levels in the next few weeks).
EURUSD above the .2860's area may get some legs for a short term continuation of the bounce so far. Any trading back above the .3100/.3200 area may set up for a very nice shot at looking for SHORT entries again (if the EURUSD can even get back to those levels in the next few weeks).
Last 20% of position now flat with the trade to the 1.3050's tonight.
Now that is what I call some serious trashy EURO POP......but I will take it!
http://www.youtube.com/watch?v=qGLXpIojJkg
:eek:
I just heard an interview on Bloomberg where someone said that the 962 billion bailout money may only last until August. And the decisions that the Eurozone needs to make to change the situation are too politically difficult to do so they will not do them. He sees the Eurozone breaking up later.
Oh well. That's too bad. It was interesting to watch anyway. I really wanted to cheer Europe and see them doing well. I remember telling someone years ago that Europe was going to be the new world power. I really thought they were going to dominate the world. Now it looks like China will own everything.
Oh well. That's too bad. It was interesting to watch anyway. I really wanted to cheer Europe and see them doing well. I remember telling someone years ago that Europe was going to be the new world power. I really thought they were going to dominate the world. Now it looks like China will own everything.
Mr Market is saying 'show me the money'.
There's lots of chatter about margin calls going on which will keep causing large fluctuations across all asset classes.
Talking heads on TV are calling the EUR short a crowded trade. BS. The carry trade is MUCH more crowded. And we're starting to see a carry trade unwind in both USD and JPY. As this unwind gets going, USD and JPY will continue to gain value against all other currencies.
I believe in keeping my trades simple. With that in mind, the EUR is the weakest major currency out there so I'm short EUR/USD. I could go for short EUR/JPY and would probably see a larger profit, but I like keeping it simple.
There's lots of chatter about margin calls going on which will keep causing large fluctuations across all asset classes.
Talking heads on TV are calling the EUR short a crowded trade. BS. The carry trade is MUCH more crowded. And we're starting to see a carry trade unwind in both USD and JPY. As this unwind gets going, USD and JPY will continue to gain value against all other currencies.
I believe in keeping my trades simple. With that in mind, the EUR is the weakest major currency out there so I'm short EUR/USD. I could go for short EUR/JPY and would probably see a larger profit, but I like keeping it simple.
All of this money printing has NOTHING to do with "fixing" any problems. This is all political positioning and final pawn placement before the board game is flipped up into the air. You can't pump energy/capital into a black hole. The debt implosion will continue to take place until risk is properly priced by the market. I am convinced that the Fed has no power over rates and that capital will flow where necessary to fertilize the seeds for the next boom. Sadly, the next boom may be a decade away. There is a meteor a few months away that will change our way of life. Will they be able to inflate their way out of this or will we finally see the "End Game."
I was worried about all the debt before but now I know how that works and it's not an issue. The corruption is the real issue. You can't control international capital flow. International capital flow is artery of the economy. I remember this set up in late 2007. We got the volatility and rally to new highs then the cascade. This time 400-0 is the support.