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Friday, November 5, 2010

FX Update 11/05/2010

EURUSD under pressure, as well with other EUR crosses on PIGS concerns..
what's really new? I don't know..I guess it s more a question of triggering weaker stop losses.

On this basis, I now have some supports starting at this level (1.4155) and extending down to 1.4110.

For those looking to play the buy dip strategy, I think it is a nice risk/reward trade pre-payrolls:
I just bought 1.4158 target 1.4215 and higher to 1.4260-80 if payrolls give a bad USD tone. Stop loss should be below 1.4090-1.4100

Let s see,

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