DislikedLooking for 300 pip short-covering rally in the EUR/USD
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I am seeing the same tired old stories being churned out to justify selling the EUR but I am not a believer. The market is short and whilst it may not like it, a rescue plan is being put in place to help get Greece back on the straight and narrow. Taking a line through where I believe the crosses like EUR/GBP and EUR/JPY should be trading, and looking at what’s happening in USD/JPY and cable, I expect EUR/USD to now hold broadly above 1.3270/80 and that we...Ignored
Right now probability isnt siding with a 300 pip rally.....need something like a serious fundamental change or unexpected event thats either euro positive or largely usd negative to push this thing that high. If Greece gets bailed out, there will be a kneejerk spike, then traders will say, ok well theyre still screwed back to short. Someones gotta pay for this bailout, when will greece be able to pay it back; never. Whos next in line is it protugal or spain? Merkel and eu min making threats to speculators all while specs are laughing their asses off. My stops for my shorts are right above 3570.
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