I’m betting for the resistance of 1370

2/29/12 is "the day" of the second LTRO that has let European banks to buy a lot of sovereign debt and exchanged for fresh capital with a good margin.

It's the second and the last operation of this kind and I expect poor auction in Europe in the next weeks. And a poor economic data like today's capital goods orders that has been weak.

Moreover the resistance of 1370 can do its job and put at least a temporal stop in the up-trend. It's an anticipatory trade. I've done with the SDS. The stop is 1380 and the first objective is to fill the gap in the 1340. A risk-reward of 4 times. The EuroUsd is at 1.34. And it's near the up part of the descending channel where it has been since the middle of 2011.