Monday, August 17, 2009


Starting with the daily chart the EUR/USD is resting on major daily trend support dating back to May of this year, however it is not oversold at all on the dailies. On the hourly charts the pair is skipping off of support around 1.4140 as the pair is also skimming 30 (oversold) on the 60M chart. While the mid-term may be mixed, in the near future I am looking for a return down to 1.4100.

Trading Idea: Looking to sell near resistance currently around 1.4200 for a retest of 1.4100. Tight stops.

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