ECB Action Creates Fresh Trading Opportunities
by AL MARTIN (INSIDER INTELLIGENCE.COM)
(6-8-14) Mario Draghi foot-dragging appears to be at an end, despite speculation to the contrary, creating good two-way action in the June Euro futures. You wanted to be short the futures going into the Draghi speak as we were.
Initial reaction gave us a chance to sell the June futures at 1.3620 or better. A great shorting opportunity on the test down at the 1.3500 level, then the bounce on the short covering reversal.
We shorted the Euros again for the second time at 1.3665. We think this is money in the bank, as we believe that the Euros will come down for a second test of the 1.35 area in the coming week's trade.
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* AL MARTIN is a market trader as well as an independent political/ economic analyst with 25 years of experience as a trader on NYMEX, CME, CBOT and CFTC. He is considered to be a source of independent analysis for financially sophisticated and market savvy investors, as well as subscribers who want to understand the behind the scenes working of markets worldwide.