Last comment contradict the first one. Why enter short on RgMov up?
IvanLabrie
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In this case, I think the USDEUR chart readings are more accurate. I'm seeing a rapid rally in USDJPY, normally, if we have money flowing into the US (now due to fears of Europe's collapse), we can expect leveraged bets by foreigners to increase, thus getting JPY and EUR (maybe GBP) loans, to finance long positions in US treasuries and stocks.
xiiimik
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Did not pay attention that it was USDEUR not EURUSD, sorry. Yes, I need to have an institutional experience, working on that. Thanks!
IvanLabrie
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I think it's worth a shot...my oil long is quite sizeable, so I want to have some diversification from 'dollar shorts'.
themarketzone
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1.08 is a strong support zone (weekly chart). It should definitely be one of the target zones if you are going to trade EURUSD lower. I kind of think that it has a potential for another short term bullish move in it. Good luck
IvanLabrie
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I was under that impression too, but I'll short it for now.
Tomorrow should make this fail, or accelerate further, but judging by USDJPY, metals, bonds, looks like yields are increasing...Also makes me think we're seeing money flowing into the US, in the form of leveraged bets, which is what's driving USDJPY up, while stocks don't fall, or go up.
Thanks for the comments, cheers!