1. The June euro continues to decline below levels noted in yesterday’s (Mon., May 18) Williams edge live meeting (forecast $112.95/$90). This places the June euro into a ‘Sell’ position for further decline and test/attempt at $110.80/$75 into Thurs., May 20 (+/-1 day).
2. Partial short position exits should be taken at/near $111.07, and the remainder exited at/near $110.80/$75.
3. Once short, a protective buy stop should be placed at $112.27. This stop will quickly be moved lower as the market continues to confirm.
1. In yesterday’s (Tues., May 19) report it was noted that the June euro was in a ‘Sell’ position at approximately $111.50 for further decline and test/attempt at $110.80/$75 into Thurs., May 20 (+/-1 day).
2. Today’s (Wednesday, May 20) June euro session declined and completed both the initial $111.07 and final $110.80/$.75 profit targets, completing the forecast and resulting in a successful trade. Will message any further entry or indication in the June euro.