Surely there has to be a retracement? (that surely is optimism amongst relentless buying of Euro bonds.
On the down side however, there will be some profit taking which will stall the bulls or maybe even give a little back.
p.s. Why does google chrome say I've spelt 'retracement' wrong!
I'd monitor it to see how it pans out. To be honest, it could go either way.
I'd say their using "american english" perhaps? Automated dictionary's are never one's to trust.
Earlier today there was a central bank who bought half a yard of the euro, sending price to 1.3580, only to have other banks sell at this area, sending price down to 1.353x area.
My sentiment is bullish for this pair. Even though the ECB bought 15 billion euros last night (which is bad for the currency), I see dollar weakness. (Yes, feel free to shoot me down as I'm trading on feelings...). Anyway, my target is 1.36 with an entry of 1.3540. No Stop loss
If Anybody is interested, this is from the European Central bank.
I promise you a touch of 1.3700 within the next hour.... Okay, I won't promise but I think it's highly likely. Enjoy.
Keep a watch on this trend line here - it's crucial for determining a short term trend, in my opinion.
I'm clutching at straws here - With the greek debt worries, all I can do is hope the price goes up.
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