While today’s action reflected mild (and widely expected) pullbacks in silver, gold and the Euro, TLT continues chugging along, on track technically to revisit Aug highs. And, in the midst of the Euro situation, the pound finally looks to be joining the FXE upsurge on increasing volume.
The Swiss franc quietly made a new high today, albeit a modest one. Now technically overbought, the FXF is due for a pullback although there are no compelling fundamental reasons to support that case. The yen is also on an upswing after an almost 4 point pullback. It is currently oversold but volume is lagging so caution is warranted on this play. Largest short interest continues to reside with FXE, but FXE really held its own in today’s session and the EUR/USD is currently 20 pips above the US equities close in the Asian session. This morning’s EUR Dipper delivered 39 pips.
Related posts:
