Eur/Huf

I normally do not announce intraday spot trades. This was thus an exception. Also, I prefer to use options whenever valuations look good. These marketcircumstances fit the options instrument very well. Whenever spreads and valuations allow for it.

Anyway, re long Eur/Huf; intraday charts indicates spot wants to go higher. If we can close above 278.50, I think we should be able to go higher again over the next 1-2 days. If we close below 276, perhaps not so.

I see this as an opportunity to go long Eur/Huf post IMF;s comments regarding Hungary, where it omitted any critical ditto re Hungarys fiscal policy.

Unless general market sentiment shifts in a positive way nearterm, it would seem to me the long Eur/Huf overhang should become absorbed by the market before long and move to test the highs again.
Spot now; 278.35.










The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
Errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice."www.todaysmacrotrading.blogspot.com" will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

© 2008 "www.todaysmacrotrading.blogspot.com:The traders blog" All Rights Reserved.