EUR/USD

New highs for the Euro!

An unbelievable break to new highs on dollar weakness, I dont like standing infront of a freight train, so no position on this run, but looking to sell some soon for a ride to the lower support levels on the 1hr chart.

[tim312]

I got screwed shorting this today to the point where my position was automatically liquidated! I just have a small amount of cash to work with in my account until I get used to everything so luckily it wasn't too much.

The magic of stops, use them and be merry ;D

[Barsuss]

Yes I also shorted the EURo at 1.3533 and got stoped out ,I am only playing with a Demo account so noReal loss.I cant beleive the strength of the EURO.

Barsuss.

[LuckyDan]

I have a trip to Europe planned in March. I sure hope it goes down somewhat. I remember back when I went in March 2002, you could buy Euros for like $ .88 and boy was it cheap there. It won't stop me from going this time, but I'll wait awhile before going back again. Also, I'm glad I nevr got into Forex because I never would have belived Euros would ever go this high. I always assumed the exchange rate would begin to reverse when the Fed raised interest rates. The new global enonomy is rewriting the old laws of economics.

Selling Euro at 1.3622, thinking 25 is ST resistance, looking for a move below 15, may ad to short if it rises.

Here we go, 1.3608 and dropping

Closing at 1.3600 ..+$300, thank you and Im done for today.

[Barsuss]

That was a sweet 300 good for you stockjock-e. My source tells me Euro might go to 1.38 or 1.40 but in the short term it might settle down a bit.

Barsuss

The closer the Euro gets to 1.40, the more confident I get about a long term short position

Ofcourse, since 1.40 seems to be the mental barrier, I wont be surprised if we see a power spike right through it to scare the shorts away first.