EUR

In his interview today, Ashraf considers Euro capped below 1.28

I think the Euro has moved above its 50 day MA and now will target 100 day MA around 1.30

Major events this month are spanish bond sales worth 20+ billion euros, Euro bank stress tests and GDP numbers - specially for the the US 2nd quarter.

In my view, the eurozone will come up with no major negative news while US weakening story will become bigger causing the dollar index to fall below 80 and the Euro to move above 1.30

Its a matter of time before US GDP falls below 2% and then less than 1% by end of the year triggering the FED to retsart bond purchases in the next few months

I have said this several times before - US GDP numbers r fake
US GDP growth of 3% is mainly coming from the stimulus. Despite this heavy stimulus, the US economy does not have the escape velocity to move out of the recession scenario. this shows how weak the US economy. Permanent job losses which moved to India, China are to blame along with globalization.

Good luck to all the Dollar bulls out here
:-)

Cat

I'm also looking to go long near 1.2485. See you on the move up

Does anyone here have experience trading the Polish Zloty? With Poland being the one European economy to avoid recession last year, and now a top twenty economy in the world, seems like there might be some opportunities. The Zloty gained against the Euro due to the election results:

"Given the clarity on the political front, we expect the government's presentation on the budgetary economic guidelines, which were supposed to take place by June 30, to take place later this week," the UniCredit analysts said.

In the currency markets, the euro dropped 0.6% to 4.1155 Polish zloty. The dollar fell 0.4% to 3.2810 zloty.

catnip
short till 1.2460
cut half of position tehn wait it might go downer around the 1.237 area

i bought euro dollar at 1.2530
1st target 1.2650
2nd target 1.2860
stops below 1.25
good luck :)