• Market commentary:

 Spot Euro jumped higher last week on weak Job data and a record rise by crude oil. Crude oil took out the all time highs which acted as the catalyst for recent Euro move. Traders anticipate the Dollar bottom to be take out soon. Euro is approaching key resistance levels and hence traders should maintain caution all the time. Profits should be protected with stops. Our buy limits for Euro were hit with an average price of 1.5480 for 2 contracts. Currently we are sitting on nice profits and are letting the profits run.

• Technical analysis:

 Spot Euro count suggest more bullish move will be coming in the coming few days. Then Euro could be sent into consolidation to work out the overbought conditions. Look for the uptrend to remain intact for Euro as Euro is cruising through each resistance. Strong resistance is observed around 1.5857

• Strategy:

1. Hold both Longs/Buys
2. Stops < 1.5605
3. Target 1.5857

• Risk Management:

Guarentee profit of 250 pips at the moment (2 contracts)

• Trend:

Happy Trading,

Hardeek Patni

Senior analyst

Goldtc.com

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