As EURUSD is testing new heights in the 1.52/53 regions with a high degree of volatility , Eurogroup's Juncker comes to the rescue with regards to a speculation on shorting EURUSD by stating a concern for a vigilant Euro, which supported USD. I shorted EURUSD at three positions (1/3 of total in each) before the announcement. And got a small profit directly after.
As too often, also in other aspects of my life, I fail the patience/risk-seeking to follow things through to get max profit though, and as such had some opportunity costs compared to if I just stuck in there a bit longer.
That said, the volatility and nervousness amongst traders makes it possible for the markets to go in unpredictable directions, and I figured closing out the position before having a mid-term exam and a dinner arranged by my bank afterwards probably was a good idea. The dinner by my bank is a concept called Bank & Bacalao. For those not familiar with Norwegian meals/dishes; Bacalao is made with the primary ingredient Clipfish (which again is made out of Cod (or as Puerto Rico and the Dominican Republic prefers, for price reasons, out of haddock ) ) , potatoes, tomatoes, paprika, soya oil, onions and spanish pepper or chilli. But I'm getting off track here..
EURUSD currently trades at 1.5186, which is still rather strong compared to USD (but it will, in time become even stronger) . We see USDNOK in 5.16/5.17, and if we don't have USDNOK at 4-levels sometime in 2009 I'd be very surprised.
Now, if only I learned how to become more patient... but at least I have a dinner with 800 crazy bankers and clients to look forwards to.
