More on Euro Currency

Tweet More on Euro Currency

Above is a 40 day chart of December Euro Currency.

Yesterday we mentioned a stop-out level of a settle above 127.44.  We reiterate that today.  

It is definitely with some frustration as we feel the fundamental picture for the Euro is still negative.                                        

                                                                

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Comments by @JimIuorio on #Euro #Currency

Tweet Comments by @JimIuorio on #Euro #Currency

Attached is a 30 day chart of December Euro Currency.

Although we still have a bearish sentiment, the relative stagnation over the last 2 days is disconcerting.  At this point, if we get a settlement above 127.44 would cover    

HALF of short position.  With current equity market weakness, we believe that old highs of 124.70 are a reachable objective on the downside.        
                                                                                      

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If you trade any of CME Group listed Currency Futures contracts, you should send us a follow request thru http://www.twitter.com/HFT_Currencies

This free trial is open to all for the rest of 2012.    

                         

                                                               

                                                               

                                                               

                                                               

Comments on Euro Currency

Tweet Comments on Euro Currency

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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If you trade any of CME Group listed Currency Futures contracts, you should send us a follow request thru http://www.twitter.com/HFT_Currencies

This free trial is open to all for the rest of 2012.    

                                             

                                  

Update 2 for Euro Currency by @JimIuorio

Tweet Update 2 for Euro Currency by @JimIuorio

Attached is a chart of December Euro Currency (ECZ2).

We maintain our short bias and will do so until we have settlement above 128.25.

We still believe that fiscal cliff uncertainty will force the dollar higher and the market may recycle      European headlines that could disproportionately weaken the Euro.  We are not suggesting that there are not real and new problems in Europe.  We are only pointing out the markets tendency to justify moves with hand picked headlines.    

                                                                                                                          

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If you trade any of CME Group listed Currency Futures contracts, you should send us a follow request thru http://www.twitter.com/HFT_Currencies

This free trial is open to all for the rest of 2012.                  
                                                               
                                                    

                                                               

Update on December Euro Currency

Tweet Update on December Euro Currency

Attached is a daily chart of December Euro Currency (ECZ2).

On Friday we initiated a short bias from 128.70.  This morning's price action has provided incentive to increase shorts with an eye on 126.00 as objective.  The election has caused a rush to the safety of the US Dollar and Treasuries.  A resurfacing of negative European headlines should cause the Euro to be disproportionately punished compared to other currencies.

                                                             
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If you trade any of CME Group listed Currency Futures contracts, you should send us a follow request thru http://www.twitter.com/HFT_Currencies

This free trial is open to all for the rest of 2012.