|
|
On April 13 we pointed out that Citi put on a long EURUSD recommendation with a 1.349 stop. The cynics in us were confident that this was merely a way for Citi to dump its EUR book.
[Citi] has just issued a long EURUSD call at 1.359. The call by technical analyst Aron Gera, proposes a stop at 1.349. In other words it is now Citi's turn to offload its EUR book. Gera's recommendation is based on technical analysis, which, in the form of momentum chasing, is all that seems to work these days. Aron thinks the EUR could surge to an 11-week high, even as the GBPUSD could jump as high as 1.5966 alongside EUR strength.
Mission accomplised. The euro is plunging (last at 1.346, just barely above the 1.345 option barrier) as Shanghai is dropping, Japan is not doing all that well, and half the world is lining up to sue Goldman Sachs. A surging dollar will do nothing to help a market that has just had its first reacquaintance with risk after three months (sorry Bernanke, even endless liquidity is not omnipotent). At least Citi managed to sucker in a couple of its best clients. Will these clients now sue Citi if they found out that Citi was, gasp, shorting the EUR against them?
 |
|
狗仔卡
发表于 2010-4-19 01:38 AM
提升卡
置顶卡
沉默卡
喧嚣卡
变色卡
发表于 2010-4-19 01:48 AM
