1. Today’s June euro advanced powerfully and closed above important levels (today’s daily close, $138.67). Normally, this indicates the likelihood of higher prices.
2. However, any further advance, test and daily close below $138.83/$85 will indicate new short entry for a tradable multi-day decline and test/attempt at $137.94 (or lower) into early next week (week of May 5).
3. A daily close above $138.85 negates the above trade and indicates higher prices coming, including a test/attempt at $139.17 (or higher).
4. Will message further trade details in a subsequent update once the market confirms as noted above.
1. Today’s (Thursday, May 1) June euro advanced, tested and closed below the critical $138.83/$85 upside target noted in the previous update (today’s session high, $138.88, today’s daily close, $138.69).
2. If short based upon the above, initial short position exit should be taken at/near $138.52. Substantially lower prices remain possible, also noted in the original update.
3. Initial protective buy stop should be placed at $138.95. This stop will be moved lower as the market continues to confirm. Will update.
1. Today’s June euro completed the majority of the recent forecast decline from $138.83/$85 to at/near $137.94, noted in previous updates (today’s session low, $138.05, so far).
2. Those short from yesterday’s (Thursday, May 1) daily close below $138.83/$85 (yesterday’s daily close, $138.69) took initial profit at $138.52, as instructed. A second profit exit should be taken at current prices (current price, $138.14).
3. Final short position exit should be taken at/near $137.94. Will message any alternate exit if the market is unable to complete at/near $137.94.
4. Lower your protective buy stop to $138.68. This stop will continue to be moved lower as the market continues to confirm.
1. The final third of our short position in the June euro from $138.69 was stopped out on Friday, May 2 at our protective buy stop at $138.68, noted in the previous update (initial exit, $138.52, further exit at $138.14). This resulted in a successful trade. Will message any further entry or indication as the market confirms.