Euro

Wednesday 20 May 2009

Euro has had an upside breakout, and there
has not been a low risk entry for price location,
[missed one this morning at 137.10], so the buy
earlier at 137.60 on a shallow pull-back, intra
day, is an attempt to get in on what could be a
strong move.

A strong move needs to be proven, however,
and the entry at 137.60 is paying up, as it were.
Price could easily retest 136.60 - 137.00 and
the move still be good, but not for the position
taken.

Move the sell stop to 137.48 to limit risk
exposure on buying higher in an attempt to
catch the breakout. It is impossible to know
what price will do, but the preference is to
limit risk exposure and possibly get a better
location, if stopped out.

Raise sell stop, Jun Euro, to 137. 48,
based on developing market activity.