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Another great day for me. I've been betting that the gains seen in the US Dollar were overdone. I placed a EUR/USD long at 1.2655 and USD/DKK and USD/CHF shorts. All trades are now well in the green, with the Euro leading the pack at +79 pips.
The EUR/USD had an upward bias for most of the day but it wasn't until the release of the FOMC minutes that a major rally got underway. The minutes highlighted a growing concern among FOMC members that further gains in the dollar could hurt exports and damp inflation. This sparked a large move up in the Euro from 1.2655 to 1.2730/40 area.
The gains today propelled me to number four spot! I think that there are more losses for the Dollar short-term, so keeping my EUR/USD long on! Wish me luck!
The EUR/USD had an upward bias for most of the day but it wasn't until the release of the FOMC minutes that a major rally got underway. The minutes highlighted a growing concern among FOMC members that further gains in the dollar could hurt exports and damp inflation. This sparked a large move up in the Euro from 1.2655 to 1.2730/40 area.
The gains today propelled me to number four spot! I think that there are more losses for the Dollar short-term, so keeping my EUR/USD long on! Wish me luck!
