Key trend line break on Euro
As many of you know, in
last week’s blog I came out and said I thought the trade of the first
quarter will be to be long the Euro out of the money calls, as the potential for
the shorter term dynamics to reverse and see a resumption of a 4 year uptrend.
The first two days of the quarter have seen the Euro break out above it’s
nine-month old down trend line. I am not a big proponent of chasing moves and
even though I am long the calls right now, I fully expect some kind of pullback
to this downtrend line to happen…
Read More