ECM10 – June Euro (Last:1.3290)

Converging hidden pivots should provide support to the Euro just above the 1.3250 level.  The midpoint of the pattern on the weekly chart is at 1.3251, and the “D” target of an intraday pattern is at 1.3253.  A print of 1.3239 would leave no doubt that both targets had been breached, and this level can be used for stop orders by traders willing to risk about as much as we ever recommend doing.  Traders preferring to risk less should bid just above the 1.3253 pivot with a stop a few pips below 1.3250.  (Posted by Doug McLagan)  ________ UPDATE (4:00 a.m. EST, 29 March):  Discussions in the chat room of how to judge whether a target has been hit or missed prompt us to cancel this trade recommendation now, because the approach to the midpoint of 1.3251 on the weekly chart, although not quite an unambiguous “hit,” was impressive enough to invoke the “no sloppy seconds” rule.