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Euro zone January industrial production much better than expected
By Gerry Davies || March 12, 2010 at 10:29 GMT
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Euro zone January industrial production came in at +1.7% m/m, +1.4% y/y, demonstrably better than median forecasts of +0.7%, -1.9% y/y. The data has helped fuel the EUR/USD rally which has advanced to 1.3786 session high so far, presently at 1.3780. Earlier there had been talk of sovereign sell orders up around 1.3800.
The aforementioned US investment bank’s recommendation seems to have certainly gotten the market’s attention.
Have a dry weekend all 
hello Gerry, i will buy sell limit order at 3800 but i think sell from here is a good idea with 3600 on target, what do you think?
i tried the sell between 1.3750/1.3800 and decided very quickly i didnt like it given the momentum and now im trying the buy between 1.3750/1.3800.
Gerry,
If it actually braks the 1.38, how far could it go up ? where’s the next big res?
http://uploads.mibbit.com/747WpP.jpg looks bullish to me, now chopping around the weekly resistance pivot. i’d suspect 1.3850 would be decent resistance as it is yesterday’s daily R3 level, followed by 1.39 (weekly res 2 pivot). and these assumptions taking into account the fact that EURUSD has been obeying pivots well as of late (you can see it on the chart). personally i’d be buying dips on EURUSD.
from my side i have been put sell order limit at 3830 and my swing target is 3500, hmm this market make me so nervous :s
this squeeze on the EURUSD cant be too big of a surprise when you look at the weekly chart. could have seen it coming from a mile away
EURUSD options expiry 1.3700 – 150M
so there are a few people who want to make a nice profit