Wednesday, August 19, 2009

EURUSD make retracement

First target was hit from yesterday’s signal but the pair quickly reversed as the stock market made up some its losses. Pair was able to rise to resistance at 1.41750 before dropping back down to sub 1.4150 levels. My bias is still lower below 1.4200, which is a good resistance level and also the 50% fibonacci retracement from 8/13-/817. RSI signals are mixed.

Trading Idea: Looking for selling opportunity below 1.4200 for a return to 1.4105, 1.4060 and 1.4015.

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