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Commentary Topic from greenfaucet

Dollar On Verge Of Break Out; Goldman On Verge Of Being Stopped Out...

The DXY is ripping, and is about to break out of recent resistance levels. News out of Europe that no bailout of Greece is to be expected, further compounded by some serious doom and gloom out of Evans-Pritchard about the EMU and the euro in general, means that the euro will soon make a date with the one point two-handle. This is certainly not good for Goldman clients who just one week ago bought into Goldman's pitch of going long the EUR/USD, with a 1.35 stop. Looks like that stop is about to be breached.