Friday 24 June 2011

EUR/USD DAILY FORECAST 24 JUNE 2011


EUR/USD
Price retraced a bit off the B low overnight to just shy of the 50. We can only sell a bearish cs formation at the 618/786, or buy at the BF786 after a cs formation.

SHORT: WILL ONLY BE GOING SHORT IF:
We get to the 618/786 and thereafter get a bearish cs formation. Trade the 618 entry for 50 pips and the 786 entry as a PT to the BF786.

LONG: WILL ONLY BE GOING LONG TODAY IF:
We get down to the BF786 and get a bullish cs formation afterwards. Trade this as a PT to the 618 since it’s a 50 prior.

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