The Euros seems to have stop its decline since Monday. Its has reached a high 1.2915 in today's trading (at the point of writing). The price has tested the 100-day SMA on last Friday with a failure to break below it.
I will remain short from 1.3070. At the same time, I have move down my stop to 1.2931 to lock in some profits.
My long term outlook for the Euros remained bearish. If we get stop-out in our current trade, we could look for re-entry opportunity at the failure to break 1.3000. The current pullback by the Euros could actually provide another great selling opportunity and hopefully with a better risk to reward ratio.
I am keeping my finger cross that this retrace is just a small one and the Euros will continue on its predicted downward move.
