I however feel distinctly like it's going to keep hovering closer around the 1.41 level with smaller bounce backs in next 24-72 hours and then break on the downside. I read somewhere most speculative IMM interest is long EUR.
Now we just need a nice trigger and patience. Question to myself: Do I short the 1.41 level or wait for the fast descent to begin.... :S Or do I even wait for 1.4120-40 test. Or a combination and standby to go long if we stay above 1.4130-40 for couple of hours...
Just seems to me that there can't be much shorts out there after hovering around 1.40-41 for so long. I know I'd have closed by now...
Update: "Companies and institutional investors also tend to hold low-risk govt debt at the end of the quarter as a way to window-dress their balance sheets" (DJ news) - if this is what has been keeping Tsy prices in check and forcing yields lower in last sesssions then beginning of July could see reversal of this and mark the beginning of increased fear of holding USD's .... :S And force EURUSD through the 1.4140 level to 1.42?!!
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