The EUR and I ….
Close up of a five euro note (Photo credit: Wikipedia)
Because I have paid my dues. Who says an Interest Rate trader has no business with the EUR/USD ??
EUR going through referendums, defaults, precarious elections in France, Greece and Spain just lost Andalucia.
Unemployment and youth unemployment is rocketing; Recession calls everywhere ranging from mild to prolonged; Germany’s True Debt/GDP now 140%; Spainish banks are resorting to using ECB loans to buy domestic govt credit in a recycling exercise.
What is happening now is classic of what happened last year.
I am making a stand. The 50 day MA has just cut the 100 day, next target 200 day MA at 1.3600 lvl. But look at the graph above carefully. The last time the 50 day cut the 100 day in Feb last year was a false break. So I am short now and will short more at 1.3600.
I am no expert chart reader so my chartist friend, Eric, will be making some comments soon.
I have seen EUR/USD bring down many a trader, Phd. and all with it. Like my ex boss said, a bond girl has no business trading in a market made for Neanderthals.
Now I know why.
Because I am a woman. And “female executives will destroy the world,…” according to the men at Bundesbank http://www.huffingtonpost.com/2012/03/28/bundesbank-women-risk-taking_n_1385100.html.
Darn it.
i don’t think this is a significant cross as the 50 day is sloping up and 100 day is sloping down. i believe it is called a dead cross. Just means range trading.
You are right.