I went long EURUSD two days ago as I thought the EUR could set an important short-term bottom, and the trade has panned out much more quickly than I could have reasonably hoped.
Yesterday I took 1/4th of the Trade off at a profit and trailed my stop. Today I took further profit and am left with 1/2 of my original position size. I've further trailed the stop on the remainder of the position below the Euro session low of $1.2250.
I don't usually like holding positions into the weekend--especially given all of the headline-driven volatility in the Euro Zone. But I hope that Sunday/Monday can see continuation of the recent short-covering-driven rally. Keep track of updates via the "Analyst Picks" page and the Real Time News feed.
I still think the Euro stands to rally towards $1.25 and perhaps even $1.27 given the significant breakdown in the Dow Jones FXCM Dollar Index.
Watch my justification for my Euro-bullish bias via my recorded euro forecast webinar.
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