EURUSD Nice correction from our sell signal observation at
1.3920 on March 7th, it is always nice to lock in profit by taking
70% of the position out here and keep the rest as a freebee with a
stop at 1.3980 when option protection at 1.40 runs out. As Warren
Buffet says, one never get poor by taking profits
INITIAL OBSERVATION
The EURUSD is making new highs since Nov 2011 and with a close
here we have broken the falling trend since 2007. We are testing
the upper level in the rising range trading channel that initiated
in 2012 so this is a critical level.
Indicators are showing that there is still room for a further
rise, again with new highs but lower highs in the Oscillators
indicates that it might be a false break up, the very bold trader
would look to go short soon with option protection above 1.40
level. We would recommend using regular stop losses a we could see
a brief rally to take out the stop losses before the anticipated
correction.
