Tuesday, July 28, 2009

Watching for a EUR/USD sell at 1.422

Previous support and 50% fib of the recent dump.

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Looking back on this morning's EUR/USD long...

it looks that while 141.7 may have originally been nice area for a bounce, the earlier spike down to 141.82 should have been a red flag to my area. Nonetheless, it I'm not ruling this out as a poor trade but I should have been on the watch for the next up and coming level, at 1.414, which indeed provided the bounce I was looking for 30 points up @ 1.417.
Err, usd/chf next up
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Eur/usd long stopped out for -25 on x2 full size, longing 1.417.

1.407 is next on the list
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