Short trade taken as I anticipate the rally in the EURO should face a near-term correction. I am anticipating the "risk-on rally" to stall and the EUR/JPY wedge formation to break to the downside. Markets are discounting geo-political risks and the "Trump Bump (reflation) trade" could turn into "SELL in May and Go Away, come back again on Labor Day (September)" in equities markets. The S&P500 is up significantly since Trump's victory and his tax-cut plans and infrastructure build-out seems to be going nowhere, which has been the main reasons for the rally in equities.
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