On Friday, when we learned about Goldman's latest FX recommendation which said to "go long EUR/$ with a narrow stop at 1.35 for an initial target of 1.40 (currently at 1.3715)", we said: "Time to sell the EURUSD with both hands and feet, not to mention with MF Global-type leverage: that uber-contrarian FX indicator, Goldman's Thomas Stolper, who has not had a notable call correct in the past 2 years, just came out with a long EURUSD call, calling for a 1.40 target and a 1.35 stop loss. Yes, this means Goldman is now selling EURUSD until 1.40 and will begin buying it at 1.35. As a reminder here is how Stolper's last EUR/$ recommendation ended." Sure enough, 24 hours later, Goldman is under 100 pips from being stopped out: at last check the EURUSD just touched on 1.3596.
Goldman Under 100 pips From Being Stopped Out On EURUSD In 24 Hours, As Expected
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