Wednesday, December 06, 2006

Remain short Euro

As I wrote last night....I like the Euro lower throughout today. It seems as if it may be in a retrace mode to gain strngth for a possible move higher at a later time, but for now I think the downside has more potential. Numbers out of Germany last night were SLIGHTLY weaker then expected (Factory orders -1.1% against expected +1.1%) so this could be the excuse the market is looking for. I will move my stop down to 1.3320 (entry point) as no need to lose money on this trade as it is against the trend.



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