Just doing my post-weekly analysis, and you could be right about a temporary bottom forming on the euro. Looking at the rate we were dropping earlier today, I thought we'd sure hit 1.3174 or thereabouts, but we stopped at 1.32 on the dot, a few hours ago and seemed to have just not seen any further selling since then. Looking at the charts, any retrace will probably only take us to1.35/1.365 max, imho, before another fall.
Also, thinking about Goldmans and the other blokes' projections re cable, i.e. 1.7 or 1.4, looks like 1.4 could be on much sooner than any of us expected, i.e 3 more days of over 200 pips drops like we've seen this week, and we're there. Joy!
Looking to short cable from 1.577 and 1.590 if we get there, and will see how low we go next month; but if we go down to 1.49 on cable over the next week or so, rather than retrace to 1.57, then of course longs are in play for me, at least, all the way to 1.577. Don't remember the last time we did a 500 pip week on cable, but that's exactly what we've just done this week.
Hot weekend? Pleased to hear you're returning next week; I'm not sure what's going to come first at this rate, 1.4 on cable or a hot weekend in Kent. My guess is the former.
Have a great weekend all, and look forward to reading everyone's thoughts over the weekend about the week, and indeed month, ahead.
i
Also, thinking about Goldmans and the other blokes' projections re cable, i.e. 1.7 or 1.4, looks like 1.4 could be on much sooner than any of us expected, i.e 3 more days of over 200 pips drops like we've seen this week, and we're there. Joy!
Looking to short cable from 1.577 and 1.590 if we get there, and will see how low we go next month; but if we go down to 1.49 on cable over the next week or so, rather than retrace to 1.57, then of course longs are in play for me, at least, all the way to 1.577. Don't remember the last time we did a 500 pip week on cable, but that's exactly what we've just done this week.
Hot weekend? Pleased to hear you're returning next week; I'm not sure what's going to come first at this rate, 1.4 on cable or a hot weekend in Kent. My guess is the former.
Have a great weekend all, and look forward to reading everyone's thoughts over the weekend about the week, and indeed month, ahead.
i
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Of course, the markets may have already made up their minds, and so the question then becomes will they push the Euro up for a better price come bad news from Portugal, prior to shorting again, or will this thing just slide?
Hope all have a wonderful weekend - be it cold or hot - wherever you may be.Ignored
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