Despite the lackluster ADP report, EUR/USD looks way extended on the day, medium leverage short June '15 6E @ 1.1353
Update:
Extended as it is today, EUR is like a freight train. Closed even, I thought it would go a little lower so I hung on, but it came surging back. I'm going to keep watching because it looks like its making another run to the day's high.
Updated Update:
Shorted again, heavy leverage at 1.1369, stop set up at 1.1366. If it stops me out, I'm done for the day, buyers win, lol.
Updating my Updated Update
Closed out at 1.1353. I thought it would go a bit lower, but looks like EUR is set to run a bit longer. I think consensus expectations for Friday's NFP are too optimistic, and the dollar will sink a bit more for a week, or a few weeks, we'll see how it plays out. I do think US data will get a little better this month, it just won't show up on Friday's NFP. I'm likely to sit out until after NFP comes out.
Gain of 3.8% on the week (all this week's gains and losses, including today). I updated my chart to show just one trade this week which accounts for them all.
Update:
Extended as it is today, EUR is like a freight train. Closed even, I thought it would go a little lower so I hung on, but it came surging back. I'm going to keep watching because it looks like its making another run to the day's high.
Updated Update:
Shorted again, heavy leverage at 1.1369, stop set up at 1.1366. If it stops me out, I'm done for the day, buyers win, lol.
Updating my Updated Update
Closed out at 1.1353. I thought it would go a bit lower, but looks like EUR is set to run a bit longer. I think consensus expectations for Friday's NFP are too optimistic, and the dollar will sink a bit more for a week, or a few weeks, we'll see how it plays out. I do think US data will get a little better this month, it just won't show up on Friday's NFP. I'm likely to sit out until after NFP comes out.
Gain of 3.8% on the week (all this week's gains and losses, including today). I updated my chart to show just one trade this week which accounts for them all.
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