FXP Update

The last FXP update was March 9th

FXP had pulled back to the 10-day moving average which is where were looking for a new long position, however there remained an unfilled gap.  I suggested you might consider a phased entry leaving room to add at a gap fill or at least have a stop wide enough to accommodate the possibility of a gap fill.

 The white arrow is the 9th and the yellow box is the gap area filled yesterday.

 3C looked pretty good on the gap fill yesterday.

Thus far the early underlying action in FXP today looks good as well. I would still keep a stop at the gap fill area ( just below yesterday's lows) as an initial stop if you are interested in FXP, we all know the data out of China recently has not been good (recently meaning the last 6 months).