Thursday, 19 July 2012

EUR/USD 19 JULY 2012


EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Price fell yesterday to give us the test and then found support to rally from there.

FOR TODAY:
We need to break 2305 to continue up, we will look to buy after a dip followed by a bullish cs formation for a long trade setup. Else failure circa 2316 points to a move lower down towards 2160.

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

SHORT: WILL ONLY BE GOING SHORT IF:
We will enter short trades if we get a bearish cs formation circa 2300/16 with limits down at the A low.

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

LONG: WILL ONLY BE GOING LONG TODAY IF
Long trades can be considered if we get a dip followed by a bullish cs formation, preferably after a bit of a fall.

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

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