Any views on when the Euro/Dollar will reach its bottom after the dollar has rallied back over the pat week, On a long with the Euro myself and hope it will be soon as i am taking a spanking, Any views?
eurgbp hasd taken out some major support levels and once it broke 1230/12250 the slide was ineveitable really it could well go to 11950, before it reverses, but watch for the ecb and boe rate announcements later this week and the us non farm payroll figures on friday all of which will effect the marketa nd could spark a rally if ecb/boe dissapoints and payroll figures are on the upside.
To be long the Euro and GBP is much more risky than being short. Thursday and Friday are two big days for Forex. Thursday being ECB and BoE rate decisions. Friday is the biggest day of the month with US non-farm payroll.
Cricket be careful and set a stop or you could lose 200+ points very quickly.
My stop is at 11800, Took it out as ity seem to have well come off its high of 12900. got in at 12600, then edged it with 12400, then again at 12200, GULP!!!!!!! all onlly for £1 i might add, but already about £1200 down, Just sitting hoping good news to come out.