June 22, 2008
30 pip profit even without oil
I closed the position, taking 30 pip profit in 8 hours, well before releasing Euro data. There is much room for Euro to depreciate today but the risk has started to rise technically and I don't want to bear it. Oil price reached 136.55 in Asian markets, near Friday's high, seems ignoring Jeddah summit. (the trade plan)
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It was a little too early to close the position. I must wait at least 2 hours until getting French PMI. The best decision was to reduce the size but not closing, though I had not such flexibility that time. German IFO dropped more than estimate and in combination to unexpectedly contraction in Euro PMI helped EURUSD to drop about 120 pip.
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