EUR

There was a very large eur buy order @1.245 that sent USDX down 86.6 to 85.4 this quantity looks indeed like CB intervention. It appears the overall situation gets dangerous. The recovery of US economy stalls already any recovery of economy in eurozone ( and China!) was govt subsidies driven . And now liquidity dries up. I think the volatility in currency markets will increase in a manner that one can only do 10 to 20 pips scalping trades in FX but swing trades will mostly fail. I did never rely on charts or chartology or chart astrology and I assume pretty soon chartists will quit to rely on charts, too.

@Ginger: never say never.


Meanwhile, this is all getting rather heavy.
Time to turn to Zerohedge for some entertainment:
http://www.zerohedge.com/article/breathtaking-250-pip-intraday-move-euro-central-banks-try-kill-eur-shorts-goldman-loses-more

Ok I think the long will meet trailing stop then I'll open short. There is too much rumors and no economy and political decision that determines EUR that condition will stay.

@Lonely: You said - "Ashraf said to short EURUSD at 1.22 and "leave it alone"


When did he say that? Last I remember him saying we'd need a bounce to around 1.25 for shorts (or words similar to that).

I might consider a short from 1.3 -- 1.28 even. And your level is just below what my downside target would probably be. But shorting 1.22? Crazy stuff.