EUR/AUD: Mightn’t be a bad idea for shorts to book some interim profits near 1.3900?

I know many people have been trying, some successfully, to pick a top in this cross between 1.4250/1.4350. It has dipped fairly aggressively but with EUR/USD nearing strong support at 1.2750 and with AUD/USD nearing strong resistance at .9250, it might not be a bad idea to book some partial profits and look to re-sell on rallies? Just a thought.

  1. That is often the hard part for me – knowing when to take profits. I hear what you’re saying and the little pig in me says “No! A break of that support in EURUSD will be a waterfall” but I guess everyone thinks that.

    I will book half at that level but I have a fairly clear target at 1.36 that should be reached in fairly quick measure.

    Thanks for your input Sean.

  2. Took some profits at .3940 yesterday…we’ll probably re-test the 4050 res level and if it holds, the drop to the .3800 level should come quickly.

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