Worm turns? Euro reversal?


Today may mark the end of this downwave in the euro.  Two days ago may well have been an island reversal, and the last two days’ volume make us think that the real FX traders are getting ready to take back any money you may have made short.

If you wanted to stand off the rally the Basing Point is Nov 19 136.39 and the stop would be  2-5% above that, depending on how much skin you want to leave on the table.

We have been extremely good on the euro in general and as a trend trade, and we have been spooked any number of times and chased out by empty threats and cage rattling.

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