Peanut Butter Carry (Unwind) Time
The EURUSD 50 DMA of $1.41 is fast approaching, just as Goldman predicted. The dollar is now back to early September levels, as the predicted unwind of the carry trade is among us. Was the European implosion really all that unpredictable? With equities lagging, once the reality of the move is comprehended, look out below in stocks.
Will the 23.6 on the Fib be broken shortly and provide the new support level or will this be the mythical 1,115 on the S&P that just can't be broken. We may get the answer today.