Thursday, 14 July 2011

EUR/USD DAILY FORECAST 14 JULY 2011


EUR/USD
No trade setups yesterday on EUR/USD.

We are still in the bearish AB swing, price bounced at the 786 during Asia, we are looking for a test of that level for a short entry today.

SHORT: Will be going short only IF:
 We have a DA786 trading day today where we expect price to continue down, we are looking for a rally and a bearish cs formation telling us that price is continuing down today. Trade this entry as a PT down to the BF786.

LONG: Will be going long today only IF:
Price falls to the BF786 and then gives us a bullish cs formation, trade this as a PT to the A high since we would have already have had a 786.

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