Wednesday 13 July 2011

EUR/USD DAILY FORECAST 13 JULY 2011


EUR/USD
No trade setups yesterday on EUR/USD

We have a new AB swing , we need price at the BF786 for a buy, and up at the 618/786 for a sell, both after cs formations.

SHORT: Will be going short only IF:
We rally up to the 618/786 and thereafter get bearish cs formations, trade the 618 for 100 (since it’s a huge AB swing) pips and the 786 will be a PT 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 for 100 pips since we have a big AB swing in play.

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