The euro keeps getting pounded. It is not that common to see such negative sentiment for a currency and to see it get continuously pounded with few bounces. It is the opposite of 2008 when the dollar was continually getting pounded and the euro was around 1.60. I think we are getting very close to a bottom in the euro price wise, time wise, it could mill around between 1.25 and 1.30 for a few more months.
I expect intraday weakness today in the ES and I would sell at the open to cover at lower prices intraday.
Thursday, May 13, 2010
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