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Details from the ECB meeting:
First indication that we will end QE this December, Monthly package will decrease in October from €30bn to €15bn Tapering is a process, think of the Fed in 2014. If you look at the yield curve between the US and EU it is priced for more growth in EU as opposed to US. German 2-10 yr is at 110 bps relative to US at 38 bps. If any central bank should be hiking its EU.
The reaction was a little unexpected, despite the dollar strengthening we have seen precious metals rally. Today is filled with confusion.
For now I am still holding 50% of the position from our buy at 1.154 after closing the other half on Tuesday +2%. It for this reason we reduce our exposure to allow for volatility!
@countofmonteCristo, lol, Im still long a half position! Everything I called for happened in that meeting today except for the currency reaction and I have been scrambling all day to figure it out! I think the Fed made a mistake yesterday and its showing up in funding markets today. Offshore dollars at foreign banks 2 years out is inverting. It would be a bullish EURUSD catalyst. We have to respect price action and we are falling but I need to see the reaction over the coming days
LastKnightofHonor
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@ROB.Reynolds, fuckin hate when that happens, good luck
LastKnightofHonor
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@countofmonteCristo, personally I think we all need to fall back on the max leverage pairs, they give you the most money to trade for a reason....the fucking usd/cad....will have you jump off a building
Dr._Fyour_Crypto
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very confusing week altogether! having a lot of difficulty reading the market this week, thanks for the update.
UnknownUnicorn266486
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@CK777, reduce your risk, wait to strike once the trend reasserts itself!