EUR Trade Index 18-Year Chart

Mont, you know the European drill by now - grind them higher with nary a back-fill for four/five straight hours.

Check your charts. Happens daily.

Hate to say this but I saw a post here the other day which Ashraft wrote back he begged to differ.

The post basically said the poor US NFP was a game changer, and FX would start selling dollars.

It appears this is the case becuase although dollar index is holding the 50 and 100 day mvg averages, I don't know by how much and we seem to be giving ground daily.

I am fearful we will read one day soon, usd breaches support lines, trend has changed. That would be very painful to miss these moves trying to fight the tide and scalp.

hear it comes fasten your seat belts were gonna crash..lol..

"eur look lik it's going to dump below 1.45."

Hope so; I'm short now :-)

chloe-check out usd/cad. at highs for the day.

Remember Ashraft says this is the first pair to bid when things start to turn usd way. Of course it is still 90 pips lower than the false breakout set-up of last night.

eur look lik it's going to dump below 1.45.

gold is pulling back sharply.

This could be an inflection day, er, hour.

The european's will take care of that though by bidding up their beloved euro and cable.

yeah, but what they say and do are two different things. That's what jawboning is all about.

Besides, markets typically trade forward looking. The game is WHEN will the US actually start the tightening. No one really knows. And their tigtening cycle relative to others.

With Aussie, they've raised three times and will probably raise in February. but then what? It's mostly factored in already.