Monday, January 28, 2013

Euro Currency Futures Update by @JimIuorio

Euro Currency Futures Update by @JimIuorioSocialTwist Tell-a-Friend

Attached is a 30-day chart of the March Euro Currency Futures.

As said on Thursday, I have a bullish bias in full.  The upside objective is 135.40....a settle below 133.90 will return to neutral. The fundamental argument includes decent numbers from Germany and a higher than expected repayment of LTRO money.   
There also appears to be a exodus from the safety of US Treasuries. Although this could be fueled by several factors there is potential for the market to interpret as a clear "risk on" signal putting a tailwind into the Euro trade.

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