eur/jpy is getting hammered... should keep eur/usd pinned to a certain extent
Just to add my 2 cents, from a fundamental point of view its nearly certain the EU will keep raising rates, while it looks increasingly likely that there could be only 1 rate rise from the fed (if any rate rise at all). Im still banked heavily on the euro bulls. Ive been holding positions over the past week and adding to them so its good to know that the technicals are pointing in the same direction as my thinking. Keeping a sharp eye on the oil prices along with gold and of course the G7 meeting.Im still convinced we will see 1.29 tho to be honest (before anyone runs off out and starts investing their kids funds on this) I said the same last week and we're still hovering below 1.275 
Just to add my 2 cents, from a fundamental point of view its nearly certain the EU will keep raising rates, while it looks increasingly likely that there could be only 1 rate rise from the fed (if any rate rise at all). Im still banked heavily on the euro bulls. Ive been holding positions over the past week and adding to them so its good to know that the technicals are pointing in the same direction as my thinking. Keeping a sharp eye on the oil prices along with gold and of course the G7 meeting.Im still convinced we will see 1.29 tho to be honest (before anyone runs off out and starts investing their kids funds on this) I said the same last week and we're still hovering below 1.275
! Oh well... there's always next time.The pair has also crossed above its 10 MA line, and stochastics are pointing upwards.
- #814
- Sep 12, 2006 3:29pm Sep 12, 2006 3:29pm
- | Joined Apr 2005 | Status: Cruising The Outer Rim... | 2,175 Posts
- #816
- Sep 12, 2006 5:02pm Sep 12, 2006 5:02pm
- Joined Apr 2006 | Status: Suaviter in modo, fortiter in re | 1,851 Posts
I think the euro will appreciate versus the dollar. i.e. i'm looking to hit 1.29 However i dont think we'll do it till text week. we could continue hopping about at the current range till the uncertainity over the G7 meeting ends. At the moment Euro/Yen is only on a reactionary basis to the USD/yen and euro yen. I'm basing my position on fundamentals (news releases). Maybe we could get some techies in here to see what their predicting. A lot of trading being done at the moment in the Euro/usd is being done on a technical basis. As far as I can gather theres big money around the 1.2675 mark supporting the Euro but this could be complete BS...Im in this trade for the next 3-4 weeks probably so be wary if you're using tight stops of following anything i say 
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