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Market quietens awaiting European arrival

By   || June 7, 2010 at 03:48 GMT
|| 3 comments || Add comment

I don’t think anybody is brave enough to be going limit long EUR into the European open as the downside seems too open. Bounces have been limited to less than 50 pips and if European stockmarkets incur heavy losses, then there could be a lot more downside. I’m sitting it out; big rallies in the JPY crosses are selling opportunities in my opinion although some crosses like GBP/JPY might be worth a quick punt on the long side.

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3 Responses to “Market quietens awaiting European arrival”

  1. Loouise on June 7th, 2010 03:50 GMT

    Another slow up-climb into Bernanke’s speech Monday night? This trade has almost always worked for bulls………..

  2. Loouise on June 7th, 2010 03:52 GMT

    Put on another short position – just in case that squeeze does not materialize – and more than happy to average-up

  3. PIP COLLECTOR on June 7th, 2010 04:25 GMT

    Generally markets moves the least expected way. Who knows London market may start the rally in eur and jpy crosses

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