Tuesday, 10 July 2012

EUR/USD 10 JULY 2012


EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg
We are still in the AB swing, price rallied to the 50 of the swing thus far. We are in no mans land as far as entries are concerned.

FOR TODAY:
We need price up at the 618/786 followed by a clear bearish cs formation for a short trade setup.

Long trade setups will be considered after a test of the BF786 followed by bullish cs formations after a 618/786 test.

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

SHORT: WILL ONLY BE GOING SHORT IF:
Short trades can be considered after a rally to the 618/786 followed by a clear bearish cs formation.

If we don’t get the set-up we are looking for then we don’t trade.

LONG: WILL ONLY BE GOING LONG TODAY IF
We don’t have the criteria in place for an immediate long trade setup, stand aside until we do.

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

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