bondskew
Long

EURUSD: Where to take profits?

FX:EURUSD   Euro Fx/U.S. Dollar
70 0 1
I have been an advocate of long EUR/USD             since 4/13/15 (1.0600; also previously posted idea). The question is where do we exit the trade? As of now, fundamentally speaking, the prospect of a Greek deal may keep the bid in place. One must also consider the currency flows with respect to global interest rates. The strong USD coincided with lower rates across the board. If that trend reversal is to continue, I am looking for an ultimate target of 1.1850 to start taking profits in this pair. The area where I would look to close the position in total = the shaded area. Keep an eye on currency flow directions as they're rarely univariate. Fundamentals always rule in FX. This is a monthly chart.
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