Stops were taken out on the Euro last night (around 2:00AM) but it still left a modest profit to be made if you would have taken profits at the Gann Levels we talked about. The Euro is still in a False Bar Stochastic Sell and a new sell can be taken if we cross below the new Regression Trend Channels drawn from the latest pivot low (6:00AM ET) to the current high. The max retracement is the 61.8% which is 1.4089, if we move past that price I will no longer look to go short the Euro and it may indicate the daily USD is not ready for the full Wave 4 retracement and we should resume our bearish outlook on the USD.
Ron Wheeler
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