It’s good to be back with a new blog post. I’ve been absent from blogging for quite some time now. Mostly because I’ve been consumed by the Euro drama, feverishly checking the news at all hours of the day and night. I haven’t made a FX trade at all this year to be honest. Everything has been in some sort of slow motion as if the world is waiting for the EU to right their ship.
I’ve been watching for a bounce to come off of a weekly V shaped bottom. I think i’ll be waiting a while. While I wasn’t crazy about the idea of playing this V bottom, I’ve been so bored with not trading that I was looking for any excuse just to trade. At the end of the day today, I see no reason to buy here.
In the near term I believe we’re looking to 1.25 for a possible bounce. Should 1.25 fail we’re probably headed for this 2002 double top at dare I say… Parity.
