EUR/USD Big Trade 02.08.2016 +50

2/15 BK Big Trade -- Closer EUR/USD here at 1.1140 for +50

2/8 -- Order to SELL EUR/USD 1.1190 TRIGGERED

Place Order to SELL EUR/USD 1.1190

Stop at 1.1390

Markets are collapsing in Europe today and the meltdown is hitting assets around the world. One of the main reasons for the bloodbath is the spike in Italian, Spanish, Portuguese and Greek bond yields. Euro is being squeezed higher because of short covering but the crisis stems from the region so it should only be a matter of time before the euro feels the pain. The spike in European yields will also make the European Central Bank very uncomfortable, increasing the case for more easing, which will be negative for the euro. German industrial production and trade numbers are scheduled for release on Tuesday and with the sharp drop in factory orders / PMI, the odds favor a weaker release.


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