Looking further ahead, I will short the EUR/USD at 1.40. 50% fib of the recent decline is at 1.4014 and I would expect a respectable kickback around that level, especially with 1.4 being such a strong support level before.
Chart below...
Wednesday, July 8, 2009
Going into the London session...
...I'm really not seeing any defined levels to short the EUR or GBP from. There are small pockets of resistance around 1.394-5 and G/Y 1.614-5 but nothing that stands out as a reliable trade.
Looking further ahead, I will short the EUR/USD at 1.40. 50% fib of the recent decline is at 1.4014 and I would expect a respectable kickback around that level, especially with 1.4 being such a strong support level before.
Chart below...
Looking further ahead, I will short the EUR/USD at 1.40. 50% fib of the recent decline is at 1.4014 and I would expect a respectable kickback around that level, especially with 1.4 being such a strong support level before.
Chart below...
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