Tuesday, 7 June 2011

EUR/USD DAILY FORECAST 7 JUNE 2011


EUR/USD
Still in the AB swing from yesterday, having bounced off the 50 level, if we get to the BF786 and get a bearish cs formation we will short to the 618 as a PT. Else longs trades only after a bullish cs formation after hitting the 618/786, 618 with a 50 pip limit, and the 786 a PT to the BF786.

SHORT: WILL ONLY BE GOING SHORT IF:
We get to the BF786 and get a bearish cs formation, trade this to the 618 since we would have had a 50 prior bounce.

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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