- Jumping the gun a bit here given that we are now only in the middle of May10. But, feel it is important to have this big picture in the back of one's mind when considering medium term short EUR/USD risks.
- A close this month end below 1.2665 (now already below at 1.2565, but 2 more weeks to go before EOM close confirms) would open the way to a substantial further weakening. IF confirmed, next target is 1.1787.
- For now, running a reasonable sized short. Add on break of 1.2520 via a sell stop. Will consider bumping up risk a lot more if we get to the month end with EUR/USD below 1.2665.
- Some thoughts here from FT on China central bank's management of EUR reserves. Stephen Jen : "If EURUSD trades down to 1.2150, the cumulative benefits from dollar-to-euro diversification since the launch of the euro would be nil".
1 comment:
Sell stop-in filled triggered at 1.2517. Low of day. Let's see.
Post a Comment