EUR

yes, the ifo is at a level last seen in June 2008 and it can't be ignored. But I'd be cautious about Germans bailing out Greeks. Their attitudes towards Greece are well known and I doubt they are going to rush to bail out them everytime a broad-based index ticks higher.

Just landed in my twitter: Greece 10year generic yield rises to 8.89%, marking the highest since at least March 1998, and rising above 8.84% set on October 12th 1998.

@Shane: you've raised fundamental questions about fundamentals ;) For me, 100pips move is a noise and you don't need a fundamental reason to move eurusd hundred pips up or down. My stops are always in the profit, never in the loss. Im managing losses by myself I do not let my broker manage them :) And Im trading very small volumes and multiple entries. So right now Im short eurusd on 5 entries with average price 1.3360 and I already took some profits yesterday. As long as Im bearish on eur I'll continue with selling into rallies.
Greece and default: I don't think Greece will ever default. But ... it will cost eurozone not only money but also the credibility and investor's trust. Even if German fin.minister sings poems about EUR stability, the EUR is dropping. The only stability is always in what investors and traders think no matter the technical stability of a currency, no matter ECB Trichet's rhetoric about 'their main objective which is the price stability' and blah blah blah. EURo is undermined because the trust is undermined. And Im done with my philosophy :)

132 is just the start..target for 120 this year. why??? because fundamentally euro is now a risky currency and fundamentally unstable. its sustainability has all of a sudden come in to question. speculative selling will continue.h

WOOOOOW

Can't answer your big questions @Shane.
Would just say that although I am still bearish on EUR/USD, I am currently flat having closed for profit earlier my various shorts. Would not be a seller just now at this level, especially not just before the weekend - been caught like that too many times before. I'm not going long either (although I know people who are, not just on this forum). I'll continue selling into any rallies, if any, above 1.33 - 1.335 or so, for modest targets. Next week is another week of course.