Overnight the Euro gapped up nearly 200 basis points. Although what i wrote about on Friday has come to pass and the Euro vs US$ has i believe bottomed (with a beautiful formation) and rallied strongly & i am short while the gap from the Asian session is being closed. The market gapped up (look at the stochastics) and hit the UMLP on the aqua blue Mod Schiff median line set and has reversed .I would look to take profits on my short position at 1.3520 and look to buy at 1.3450-1.3500 but that all depends on price action between now and then.
All eyes are on May CRUDE OIL (see previous post) and cash/spot GOLD (also see previous post)..... May crude needs to take out the swing low at 84.12 and Gold is over the reaction line i mentioned on friday and was on the Upper Median Line Parallel and i am watching to see what happens when the gap is closed.
Euro$ trade stopped out at break even
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