Wednesday, August 11, 2010

EUR/USD broke down today


Today investors turned on risk off trade. EUR/USD had its biggest drop in 19 months and led risk assets lower. US treasury yield took a plunge, 2yr yield was down to record low around 0.49% and 10 year treasury rate trade through 2.7%. Commodity weakened on stronger dollar and softening global growth outlook from FOMC, BOE and China.

EUR/USD formed a three crows pattern in candlestick and MACD generated a sell signal today. I shorted some EUR yesterday and planed to add more opportunistically.

2 comments:

liz said...

any thoughts about tmr? friday the 13th?

Market Trend said...

No comment.
Long term EUR is in a down trend.

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