From IFR: "London, March 16. The risk reversal curve"s topside strike premium has widened on the back of spot"s post-US CPI break above 1.2100. The 1mth 25 delta R/R is now 0.3/0.4 EUR calls over, with the 3mth 25 delta R/R 0.15/0.35 EC over last. EUR calls in demand of late have included mid-dated 1.2300, 1.2400, 1.2500, 1.2600, and circa 1.2625 strikes"
Still short, tomorrow is another day. NZD/USD is a better short at these levels though. Might add to my short here.
Don't be so sure of that. The dollar turn around here is significant. EUR/USD just broke 1.2150 and still shows no sign of a breather. I'm out of my longs on it because I expect overbought conditions to begin to take toll. But clearly, the mold is changed.
Still long from 1.1885 as advised earlier in thread. Move stop profit up to 1.2113 - guaranteeing minimum 228 pips profit.
Advise you take profit now, Lon. An excellent trade, my friend. But this upmove is looking to run out of steam here with resistance @ 1.2160.
Yes. And it is as we speak. But if you're only in it for intraday, you'll be safe as a pullback will almost definitely come. It's just that I expect them to be shallow, so don't short for long.