Sell the Euro......

With a weak ISM number in Germany...French buisness morale low (as reported by reuters) and surprisingly strong consumer confidence numbers out of the States yesterday there is only one position to have SHORT EURO against the Dollar ! I am looking for a move (over time) down to the 1.2200 level and would consider myself wrong if we traded above 1.3480.

I continue to be short Usd/Mxn looking for the break lower and this has not worked out at all. Based on the statistics put out by the futures exchange in Chicago, there is a very high number of short Usd/Mxn positions in the market. Therefore a move higher, like we are seeing, can cause a short squeeze quite easily. I have cut my position in half and will attempt to hold on through the squeeze.

These are my FX Trading Ideas for today.

Good Luck to all