Monday, 25 March 2013

Russia is selling Euro

The Russians are not happy with the Cyprus bail-out terms and , as promised, are selling Euros with a vengeance.
I bought 2 Bobl M13 at 126.30 and 126.35 (  pivot is at 126.33 ) , edging my short on Bund, and then I went short 1 BTP M13 at 110 ( pivot 109.94 ).
 I will sell back one Bobl on R2 at 126.61 : in case of an ECB intervention on the market , I will sell the couple at market.
First target for the BTP short is today's S1 at 109.42 and then 108.73 ( S2 ). Stop at 110.10.

 Bloomberg's chart

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