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Saturday, August 22, 2009

EUR/USD today opportunity

Since thursday the euro has been stronger than my expetation vs the euro;
I think a "correction" of about 200 pips will happend, but when?
Yesterday after US trade balance data there was a tendence to recover vs the euro from the dollar;right now that recovery is zero; euro/usd is trading at 1.3693;
if French CPI and EU industrial production will be not better than the forecast I see an opportunity to sell EUR/USD with a target 1.3600;
if we will have also a not worse than expected data from US I think is the day where at least part of the 200 pips overvalued will be recovered...

for today I will sell 2 unit of eur/usd @ 1.37 (right now) I will buy back @ 1 unit @ 1.3600 and 1 unit @ 1.3560; stop loss @1.3740;have a good trading

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