on the other hand, a rate cut should be consider soon. Market eyes on meeting between Merkel and greece PM. Everything is on the air. So more confident that market is getting. Its hurt much more when they find out nothing changed. In fact they all scream the whole WORLD has to aid the crises. Japan and China have made the statement already that they will support but only and if.... . Other european countries are also talk talk talk ... ECB talk talk talk. In fact they has to face their next election.
If they has to step in and intervene the bod market means bad situation. And let see what tomorrow happen with Italian treasury auctions CTZs, or zero-coupon bonds with maturities of 24 months. May be this time the Italien says Japan will but some of their papers.
I am waiting till 1.3680 area before adding to my shorts.
I'm kind of doing the same pt i just noticed that everything was overbought and the buying had suddenly stopped below 1.3530 so took a short position and closed out at 1.3450. Risky i know but paid off in the end! Nice thread by the way in the forum ill be following that closely!