Replies to post #809 on CURRENCY CENTRAL (fka )

[jon_e_og]

I agree the Euro will need to correct against the USD and JPY, the only question is will EUR/USD test som BIG stops in the 1.19's, you've got some big macro guys still looking for a continued move, hedge funds that still have USD shorts and wont be able to take much more pain, large Euro PUTS that need protecting, and rumors of some pick players like Buffet with stops down there...

support has been tested a couple times @ 1.20 and only breached it once for a quick minute, this level will bring alot of players into the market but will have alot of $ on both sides of the trade... medium term the fundamental issues behind 'cheap' dollar trend has not changed, Euro zone has just had its own political troubles and economic shortcomings so alot got stuck on the wrong side of that big USD short trade and had to unwind pushing us to this point, now that most of the 'pros' are calling for EUR/USD 1.10 i think its time we start looking to get long for a longer term trade, lol