Wednesday, April 8, 2009

EUR/USD on the watchlist for tonight...

...about the same levels as yesterday but I would like to see some continued EUR strength in order to short at the resistance range in the 1.333-1.3365 range. In addition, 1.3365 is the 50% retracement of the recent decline and as we've recently broken the uptrend, the 1.3365 price gives the EUR a chance to come back up and retest the bottom side of that old trend line before heading back down.

Chart below showing the levels...



What do you think?

No comments: