1. Today’s June euro broke out above the critical $138.85 level noted in the previous update and completed the forecast $139.18 upside target and higher (today’s session high, $139.50, so far).
2. Although no official long entry was indicated, self-directed traders based upon today’s upside breakout should have exited a portion of their position at/near $139.18 noted in the original update.
3. Continued daily closes above $138.85 remain the stronger position. Longer-term, we await the completion of the $140.73 upside target originally noted late in 2013.
1. A daily close today (Monday, May 5) above $138.85 in the June euro is the stronger position and will indicate the likelihood of higher prices, including a test/attempt at $139.18 (or higher. Will message any new entry based upon this as the market confirms.