Monday 20 June 2011

EUR/USD DAILY FORECAST 20 JUNE 2011


EUR/USD
We have a new AB swing in play; we need price at the 618/786 and a bullish cs formation for a long trade, or hit the BF786 and a bearish cs formation for a short trade setup.

SHORT: WILL ONLY BE GOING SHORT IF:
We will short if we get a bearish cs formation after we hit the BF786. Trade this to the 618 since as at 05h26 GMT we had a 50 prior bounce. If this changes during the session adjust limit accordingly.

LONG: WILL ONLY BE GOING LONG TODAY IF:
We get a bullish cs formation after hitting the 618/786. The 618 entry will have a limit of 50 pips and the 786 will be a PT to the BF786.

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