Not again - EURO!

EURO (EUR/USD) - As I warned the last time, I said I may override the buy/sell signal and go with the chart formation. That has the correct play I believe. You should have sold the EURO long on a move below 1.34 and if you went short place a stop at 1.35 locking in a 700 pip gain. This is the third quarter in a row that near the end of the quarter we had a rally in the EURO followed by another sell off.

British Pound (GBP/USD) - Any more weakness here and the sell signal will be triggered. The long trade would generate a small loss. I hate the Pound.

Aussie Dollar (AUD/USD) - The Aussie is flagging here. This week we will see if the Aussie follows the EURO lower or the NZD higher. Like I last said, you should have taken half the position off and now move the stop on the remaining to just under 68.

Canadian Dollar (USD/CAD) - The Loonie is still on the sell signal making a little progress and could stop us out. I still do not have high hopes for this trade. Stops for now should be lowered to 1.26.

Japanese Yen (USD/JPY) - The Yen is still on a buy signal but going now where. If it just keeps bouncing around, stops will have to be at chart points instead of buy/sell signals or previous profits will be eaten up. I would place stops at 95.75 for now.

Swiss Franc (USD/CHF) - Like the Pound I am staying away from the Franc until I can trust it. If you took the sell signal, you should be short from 1.14 with a 1.16 stop. Small losses so far.

New Zealand Dollar (NZD/USD) - The NZD is holding in there well. It looks like it will be our next big winner. I would raise stops to under 55 now.

The Denarii Trader.

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