DislikedQE3 won't necessarily drive it up much higher. Maybe 1.30?? if at all
Large asset purchases are pretty much priced in now so the risk is to the downside, and if we get QE3, the upside risk is very limited without a correction first.Ignored
As of now, there're stops starting from 2940 and all the way up to 3000 and bit above. If liquidity dissapears then there's very little catalyst necessary to start soaking those orders. But without a real QE3, that range should be top.
Regardless, all those FOMC trades are better realized in aud and cad markets rather than in eur and even less so in gbp.
PS. AUD's already shitting its pants.