Comments on: EUR/USD starting to look heavier

By: Sean Lee

Sean Lee — Wed, 27 Mar 2013 08:02:08 +0000

Hi Ivory, yes anything is possible. Shud be good support at 12665 so maybe keep m/t stops below there??

By: Ivory

Ivory — Wed, 27 Mar 2013 07:45:15 +0000

Sean,

There is a question for the EURUSD, because in coming April it looks different due to some changes of the open interest figures in futures and options.

I guess there is still bearish momentum for the middle term. But in new month we could face short-term retrace, say to 33-35 figures. And for my opinion, the best place to start the retrace should be 2750-2800 area.

By: Nachiket

Nachiket — Wed, 27 Mar 2013 05:03:55 +0000

121.75 is 38.2% retacement from 125.52 to 120.06 so a break of that on the downside now will add to selling. on the similar end break of 122.27 could add more buying

By: Chngster

Chngster — Wed, 27 Mar 2013 05:01:08 +0000

Hey Sean

I’ve happily covered my E/U shorts around midnight last and currently sitting neutral.

Am picturing a scenario where the market goes for the stops down to 2800, then reverse up by week’s end as players cover positions ahead of Easter break. Question is whether smart to reload shorts at 2950 if given the chance before Easter….I don’t think so?

…so just going watch and wait for now.

By: Nachiket

Nachiket — Wed, 27 Mar 2013 04:36:09 +0000

but doesn’t it mean risk off? S&P close to topping out. dollar heavy. bernanke wants a weak dollar