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Out of EURUSD
4/13 – Move EUR/USD Stop up to 1.1260 – we’ll buy again lower if the stop is hit because if it breaks 1.1270 then its headed to 1.1200 and maybe even 1.1160
4/12 – Order to Buy EUR/USD at 1.1390 TRIGGERED
Place Order to Buy EUR/USD at 1.1390
Stop at 1.1190
The trend in euro has been strong and we still think the pair is aiming for 1.1500 and higher. The market detests dollars right now and the emergency Fed meeting tomorrow suggests that something is afoot. Especially since it comes hours before Yellen meets with President Obama. These are closed door meetings so no comments will be made but there’s certainly reasons to believe that there are lingering concerns about the U.S. economy. Also, the euro is being driven by risk this week and we believe that China will report higher exports which should help boost risk appetite and in turn the euro.