Attached is a chart of the ECZ2.
The RISK OFF trade
remains in tact as treasuries and the dollar are bid this
morning.
Good news out of china has slowed the Aussie's decline and
makes our short bias in the euro that much more attractive. Price action in the ECZ2 is still negative and we would look to take profit on half of our short at
126.25 (approx 50% retracement of the up trend that began in July).
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