Away for 10 -14 days

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Away for 10 -14 days

Post  Levaz on Sun Aug 29, 2010 12:50 pm

I will be taking a break for the next 10 -1 4 days. So, I will not post for a few days.
For this, I apologize. However, in all fairness, the way my signals have been going for the past couple of month, that may be a good thing - for all of us - Wink .

In a worst case scenario, please bear with me until Sept. 12, 2010. I should be back to work by then.

Levaz
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Levaz

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Re: Away for 10 -14 days

Post  Levaz on Thu Sep 09, 2010 7:13 pm

Hi guys,

We are rearing to get back into action. Markets are still in the risk on / risk off mode. When risk is on, sell USD and when it is off, buy USD. So we will abide by these guidelines. Care must be taken to react to news, since that is the only way we can access these risk on/off moves.

We will start with our trades in full swing next week. It seems to me that a bottom has formed in the EURUSD pair in the 1.2550 - 1.2650 range, with a current cap around 1.2900. However, the USD index has turned around from the recent retrace which showed USD strength. With further QE measures almost guaranteed, and low interest rates set to remain for extended periods, it does not look good for the USD. The Euro zone banking worries along with public debt are the concerns. The recent Euro 9 Billion public offering announcement by Deutsche Bank shows that the banks are taking measures to prepare for massive write downs, which is a good thing.

So we have the following trade:

EURUSD long at 1.2600 SL 1.2550 TP 1.2850

Levaz
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