EURUSD

Price just could not hold the underside of the 80day FLD or the LTL of the regression channel up from 1.3476 today, although is sat inside the 5day FLD at the close. With the daily bollys and 80day price envelope in the 1.3818 area and the 4hr momentum cluster looking poised, I have banked all shorts in profit from the bouncing price action today and covered half of the rest. This feels like perfect 'peek, poke & drop' territory with that roof space above and the need to get down to the 20day FLD below as well, and it could be a 5th up to complete the assumed 'e' leg. It has been very profitable playing the range to the downside this week and  there is still all of next week to fit in my 80day cyclic low, so plenty of time for a drive down, even if there is a new high, first. I did not want to go into the weekend with naked shorts alone, but I am 50% net short and comfortable with that. Have a great weekend everyone.