Someone out there sure likes these things.
The bad news has been almost relentless since August but the euro continues to hang in there. At 1.33, EUR/USD iss down almost 10 cents in that time but that’s not bad considering the existential crisis pounding away at the bulls. Moreover, EUR/USD is holding above the 2010 [...]
Greek Prime Minister Papandreou had a Halloween surprise for markets on Monday as he announced a referendum on the EU bailout deal. The move was completely unexpected and could throw Greece (and Europe) into chaos. The euro dropped almost 100 pips as the news hit.
The Greek public will decide whether or not to accept the [...]
Entered EUR/USD short at 1.3766 on 19 Oct. Stopped out 24 Oct at 1.3936. Result: -170 pips.
Entered with a stop at 1.3936 and a target of 1.32. Greatest open loss: 170 pips Greatest open gain: 110 pips.
It’s frustrating to be right on the macro front but get the levels/timing wrong. That’s [...]
The euro jumped 100 pips in a flash on the release of the EFSF guideline report. The move is nonsense and has retraced completely. EUR/USD has fallen as low as 1.3656 which is 120 pips below our trade entry point. Let’s take a closer look at the news.
I have been on the sidelines and lacking conviction for the past two weeks.
First, I was expecting the US economy to fall harder and faster. More importantly, the Merkozy ‘promise to deliver a plan’ on Oct. 10 generated a 500 pip rally that left me scratching my
The headline risk surrounding this [...]
The euro surged on news that the European bailout fund will be given the power to buy periphery debt in the secondary market. We think this is a wise move by European leaders. It will chase out shorts in the bond market and spook CDS buyers. We anticipate buying to be unannounced (unlike the Fed’s [...]
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