So the ECB decided to take it upon themselves to drop the Federal deposit rate to .05%. This sucks because now there is essentially no insintive to own any EUROs. We American traders should be looking at Europe with a predator's focus. After the initial slaughter of the the EUR/USD there will probably be a host of carry traders lining up to buy those poorly paying euros in exchange for some higher yielding currencies like the AUD or NZD. The USD has a poor federal funds rate as well but not nearly as pitiful as Europe's so we should see some methodical purchasing from the international client having banks soon. If you've been following my recent posts you should ultimately be profitable from my suggestion to short any EURUSD pop ups. Fly balls look like home runs until the ball starts to fall and you see just how far the fence really is.
On another note, I went H.A.M on Tuesday and placed about 7 orders. I shorted NZDUSD @ .833 & USDCAD @ 1.09. Canadian traders took my out for a gain of 50 pips and my friends in New Zealand are earning me money with about 22 pips on my belt buckle. AUDUSD and GBPUSD have been on my radar and I won't tell you how or why until they tell me what I want to hear.
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