Just a couple of things to be aware of when trading this:
The Euro is sitting at about 3145 now. If you wanted to get in now-I don't think it would be a great trade. Why? Because u have to put your stop at like 80 and it's likely to hit some strong support around 25. I've been in it for awhile, so even if it hits 80 I got like 60 pips so i'm not worried. Could it go back to 80? Sure. It could go above that too...so if u didn't get in at or above 3175...I would wait for the break below 25. It's a much safer trade.
I'll tell u what I find the most interesting thing in currency right now. Look at the UK data-inflation the highest in years...jobs strong...it's almost a sure bet the BoE is gonna raise rates in Jan...so where's the pound goin? Nowhere. Why? Don't know...but someone's buyin $'s somewhere...
The Euro is sitting at about 3145 now. If you wanted to get in now-I don't think it would be a great trade. Why? Because u have to put your stop at like 80 and it's likely to hit some strong support around 25. I've been in it for awhile, so even if it hits 80 I got like 60 pips so i'm not worried. Could it go back to 80? Sure. It could go above that too...so if u didn't get in at or above 3175...I would wait for the break below 25. It's a much safer trade.
I'll tell u what I find the most interesting thing in currency right now. Look at the UK data-inflation the highest in years...jobs strong...it's almost a sure bet the BoE is gonna raise rates in Jan...so where's the pound goin? Nowhere. Why? Don't know...but someone's buyin $'s somewhere...