Alternate Consideration for the Euro

One always has to be flexible when trading. I was expecting with the break on the dollar we would see a more aggressive follow through. I reduced some of my earlier positions long dollar and short the euro for a modest gain but will still hold the remaining for the long term. There is still the possibility that we are in the early part of an uptrend. Personally I think we are perhaps just going to be flagging higher before we make a lower high and ultimately breakdown. Long term I remain bearish on the Euro, but long term can be a bit longer than anyone would like to see.

I shifted some capital into the beaten down YEN for a speculative play. I’ve been just using options on currency ETFs for now.

More on the Yen play later.