shorty ago I took on a short euro against 1.2675. for 1.2630 and lower
london red 21:52:06 GMT - 10/06/2014
JP, tomorrow I believe we will extend initially its whether can hold gains throughout the day/into close which will be important. if we do an intraday reversal i expect we will fire a few false breaks beforehand to suck in dollar sellers at the high of the move. so if a reversal is to take place you can be sure of such a setup playing out.
there will come a point in the afternoon where it makes itself clear which way we go and the market will move strongly to that side.
currently overnight options are pricing in a 45 point move on the euro. after a move like today its a bit on the tight side maybe, but i believe that could be about right on the topside tho i would allow for the trendline at 12733 (4h) as a false break thru 127 flash high. i am really not concerned about a possible daily higher high given we got a similar signal higher up and promptly reversed. the problems facing the euro always come to light in the cold light of day and thats why the rebound could break apart at just about any point. but i wouldnt put all eggs in one basket before 12571 taken out. i would want to be short well abv there, but scale in further on the break of that level. but for now i have two trendlines at 12625 and 61.
Mtl JP 21:00:15 GMT - 10/06/2014
red earlier usd strenght was really concentrated against two ccies: euro and yen (of which euro short was about 2x the size of yen short). Judging from last Friday's COTs things got a bit spread out. Today's dlr dump , I agree, is not yet a signal of turn in usd's relative strentgh
london red 20:52:58 GMT - 10/06/2014
not far off but dxy yet to break friday low. the level to watch will be 85.60. the upper channel breakout level. if dollar survives this, we could see a turn around in fortunes by end of week. but fail there and it points to a deeper correction.
GVI Forex20:46:49 GMT - 10/06/2014
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