Wednesday, June 10, 2009
Not going to take this, just posting it up.
Will follow-up on it tomorrow. I'd short it around 1.405-1.407, stops above 1.41.
Short EUR/USD 1.3996
| Playing the break of 1.40, retrace and looking for a continuation. Stops set above hourly spike high @ 1.402, looking for 50points. Half size position. |
1.38 Next on the EUR/USD Chopping Block
Past daily support and 38% fib. We've seen some nice breakdown from yesterday's EUR/USD trade that was closed out early but not until this morning's NYC session. Last night's UK session provided a lot of chop and the high spike would have taken out my stop by 1-3 pips. That being said, price has now moved back in my direction to about 150 points and I expect it to continue downwards to the 1.38 zone where I'll play the bounce. |
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