Thursday, 7 July 2011

EUR/USD DAILY FORECAST 7 JULY 2011


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

Price fell yesterday giving us another new AB swing. We can only sell at the 618/786, or buy at the BF786, after cs formations.

SHORT: Will be going short only IF:
We rally to the 618/786 and get a bearish cs formation. Trade the 618 for 50pips and the 786 will be a PT to the BF786.

LONG: Will be going long today only IF:
We get a bullish cs formation after hitting the BF786. Trade this for 50 pips since it’s a shallow bounce.

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