Apr 072011
 

In my March 6th update on the Euro ( at which time the EUR/USD was trading at 1.3982) I had suggested that we will likley see a test of 1.4374. The high so far has been 1.4350. We might still get a final push higher, but from now on I will not be so bullish on the Euro as before. We will likely see a correction down to 1.4020 in the coming days. So use any recoveries to lighten up. Should we sell now for the move to 1.4020? No. It is still too soon. We might get a recovery again from around 1.4220, and you will get caught if that recovery proves too strong. Will let you know when the time is right to sell.

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