EUR/USD 15 MARCH 2012

EUR/USD – follow me on twitter @fxdailyforecast

Price gave us the bullish support we were looking for. We went long, but then exited our long trade setup as per the post on stocktwits.com/fxg for zero loss.

FOR TODAY:

We have kept the A swing high up at 3190, with 3122 and 3089 being interim highs Price seems to be trying to find a base with the low currently down at 3003. We need a test and a bullish cs formation to buy, else shorts are only considered up at the 618/786 of this swing.

SHORT: WILL ONLY BE GOING SHORT IF:

We need price up at the 618/786 of this swing followed by a bearish cs formation for a short trade setup. Stops will be 13 pips above the cs formation, limits defined at time of entry.

If we don’t get the cs formations we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF

We need a test of the low at the BF786 followed by a bullish cs formation for a long trade setup. Stop 10 pips below the low, limits 70 pips since it’s a shallow bounce.

If we don’t get the setup we are looking for then we don’t trade.