Wednesday, October 20, 2004

EuroFags Rape Greenback...

Italian Industrial orders and sales numbers came out early this morning for the Eurozone with a 9.7% vs 4.8% increase in orders and a 11.0% vs. 4.1% in sales. Eur/Usd broke through stops at 125.50 continued its rampage through the 1.26 figure. (See tale of two channels) Word from the cobblestone streets of the old country, says there's a lot of interest in the 1.2625 region, leading to even more stops at 1.2650. Will they attack this checkpoint head on? Or are we going to flank the west and be buyers on any dip?

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