Emini Trading Update – Wednesday 6 Feb 2013 (10:50)
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We’re winding up for a big move. If we break 1,500 that will show weakness. And then if we continue through 1,490 we’re on our way. But they’re taking their time about it – looks to me like the Professionals have been positioning themselves over the last 3 days.
Roll on Thursday – I need to know which way we’re going to break.
Quote of the day …
From Francois Hollande, the career bureaucrat and current President of France:
“We can’t let the Euro fluctuate according to the mood of the market … Governments must decide exchange rates.”
Well he’s not alone in thinking that – lots of Governments around the world are manipulating their exchange rates. But it’s kind of odd. He’s cheered as a hero in Mali, then comes back with this Napoleon complex and wants to rule over the Forex market. If he wants the Euro to be weaker, I’m sure the market will oblige … in due course.
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