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Tuesday, 22 July 2014

140722 EUR/USD Plummets

Early today, the Euro plummeted against the US Dollar.

Simple trend lines drawn on the chart show the dive continuing to $1.333 and then a swing back to $1.342. For a larger, and clearer, view, click on the image.

Unfortunately, my entire Shares Punt fund is tied up with my shorts on Intel Corp and Twitter. Should I exit those and put my money on a EUR/USD Short instead? The problem with that is that Intel and Twitter could actually fall now, as I had predicted, and there is really nothing stopping the Euro from "prematurely" bouncing back (though for a medium-term, rather than a short-term, punt, it is reasonably safe to predict that the Euro downtrend will continue for the next few months).

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