FX:EURUSD Euro Fx/U.S. Dollar
EURUSD volatility remains exceptionally buoyant (whether you look at implied volatility or just ATR). Swinging heavily between 1.1500 and 1.0500, it would seem that this would be leading us to a clear and prominent trend. However, fundamentals present a much more complicated picture that will be more difficult to overcome than a mere technical break is capable of securing.
Agreed. And when you have the backing of the ECB and the obligated banks......perhaps the long position is the right position for now? Fundamentally speaking does it make sense? probably not... from a economic competitiveness sake does it make sense to be gaining strength? probably not....only from the understanding that the massive short community can flip and go long does it make sense to be long as the short trade has played itself out. With the US$ knowingly weakening over the course of the current and possibly the next quarter can one rationalize being long over short. 1.15 and 1.20 with our without Greece.