I'll be adding EUO to the watchist as a long. Remember
that I already have UUP (US Dollar ETF on the watchlist from Nov
24th), which was a good entry and a swing trade. However EUO
can still be traded as well because even under a bearish longer
term view, I would expect EUO to have one more move higher in wave
C. Of course this current wave B can still chop around for a
bit.
One could either buy EUO now with a stop below 20 in the 19's,
or wait for it to break the triangle
I'll be adding EUO to
US Dollar looking bullish
Posted by matt on 5th of Jan 2011 at 04:09 pm
I'll be adding EUO to the watchist as a long. Remember that I already have UUP (US Dollar ETF on the watchlist from Nov 24th), which was a good entry and a swing trade. However EUO can still be traded as well because even under a bearish longer term view, I would expect EUO to have one more move higher in wave C. Of course this current wave B can still chop around for a bit.
One could either buy EUO now with a stop below 20 in the 19's, or wait for it to break the triangle
Agree on the Dollar synopsis.
Posted by vimal on 5th of Jan 2011 at 05:26 pm
Agree on the Dollar synopsis. I have just taken a GBPUSD short by the way and see some room for the pair to move down towards 1.53-1.54 range for sure