Thursday, May 13, 2010

Euro Weaker Again

The euro keeps getting pounded.  It is not that common to see such negative sentiment for a currency and to see it get continuously pounded with few bounces.  It is the opposite of 2008 when the dollar was continually getting pounded and the euro was around 1.60.  I think we are getting very close to a bottom in the euro price wise, time wise, it could mill around between 1.25 and 1.30 for a few more months. 

I expect intraday weakness today in the ES and I would sell at the open to cover at lower prices intraday. 

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