Back to the well once more...long dollar

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Uh oh. PBOC's Yi out with the same comments that Cheng came out with last week. Damn, they are out to get me.

This isn't good. I may have gotten too greedy here. Putting a tight stop on this one at 1.4690.

As for all the other reasons posted, you guys said the same thing last week, LOL.

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there is reason for that.

the USD/EUR pair only appreciated 1.69% in this time frame whereas the USD/GBP appreciated 2.48%.

4.5pips spread or not, you would have made far more money.

Barron

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Well if it makes you feel any better, I cut it breakeven, so I didn't make ANY money, LOL.

I'm looking for a possible breakout for the EUR/USD to the upside this week. Got 3 lots long the Euro hoping I can reverse it on a breakout. Might be a little thin on the volume this week and ripe for some exaggerated moves, especially if it takes out stops in the 1.4750 range. If this happens I'm flipping my Euro position, hopefully in the 1.4775 range and adding 3 more if it crosses 1.48.

As for the Pound, like I said, I'm just not as familiar with it. Yes, I likely could have made more, but I could also have made even more with the AUD/USD pair. I just don't have as good a grasp of the fundamentals and flow of the pound or the Aussie dollar.

I did think about diving in on the Pound last week though when I saw a couple of banks revising their rate cut scenario for the BoE. But I passed.