Monday, 6 June 2011

EUR/USD DAILY FORECAST 6 JUNE 2011


EUR/USD
We have a new AB upswing in play, with price close to the B high. We need price down at the 618/786 and a bullish sc for a buy, with no real shorts from what I can see now. We are pretty sideways since creating the B high.

SHORT: WILL ONLY BE GOING SHORT IF:
No shorts at present, we are sideways and a bearish cs now might still be in the range, unless we get a clear dominant candle taking us out of the sideways range, but then the stop might be too big. Will advise later in the sessions if I see a clear bearish cs.

LONG: WILL ONLY BE GOING LONG TODAY IF:
We need price down at the 618/786 for a buy, the 618 for 50 pips and the 786 for a PT to BF786.

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