Message 18

Unfortunately (for us!) the Euro has shot up on positive EZ PMI data which was much more positive than forecast. The price is around the 1.4300 area which is resistance and a round number...it is tempting to add a short at this price...

The US data out at 3pm today (GMT) is potentially market moving (combined with Bernanke speaking) and I would hope that the market will start to move back down soon heading into US open.

Trading will probably be thin this afternoon and thus the big players can move the market quite quickly and create whipsaws in each direction to take out stops. I am hopefull that the 1.4300 area will hold as resistance and the market will move back down towards our entry price and then I will re-assess.

I will be back if I decide to enter a new short trade, I'm tempted not too and just let this trade play itself out and exit for what we can get, after all it has been a good overall start to the new bank.