Thursday turned out to be a very profitable trading day with two profitable buy positions in the GBP/USD and a big profit of 100 points in the DAX. All in all, it has been a good trading week and that’s why we will save our weekly gains and will not re-invest any profits today.
The DAX finally broke above 14200 and headed for a test of the 14300-region. As long as 14000 holds, we may see an extension of gains towards 14700.
The euro and British pound continued to rise on a weakening U.S. dollar despite their overbought situation. We continue to warn traders of the risk of sharp corrections within the recent straight-lined uptrend.
We wish everyone a beautiful weekend and good trades!
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Long @ 14260
Short @ 14190
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