Still holding short from 1.340. Looking at the current economic activity around the globe with the US and Syria(which the news of sent the EUR into a dive) looming and also the US FED meeting on the 16th making the next weeks make or break time for long term EUR bulls.
I see this recent bounce off of the 200 DMA @ 1.3137 as large scale professional/institutional traders taking profits after news that the US may not be moving on Syria until the week that the FED meets(talk about a very possibly crazy week for the FX markets).
I moved my stop down to 1.33 and I still see the up and coming events around the globe as strong for the USD across the board(especially if the US FED happens to meeting as we are dropping bombs on Syria).
I see this recent bounce off of the 200 DMA @ 1.3137 as large scale professional/institutional traders taking profits after news that the US may not be moving on Syria until the week that the FED meets(talk about a very possibly crazy week for the FX markets).
I moved my stop down to 1.33 and I still see the up and coming events around the globe as strong for the USD across the board(especially if the US FED happens to meeting as we are dropping bombs on Syria).