Friday, 20 July 2012

EUR/USD 20 JULY 2012


EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg
Price rallied yesterday but didn’t close above the B high and pulled back into the AB swing.

FOR TODAY:
We will be looking for a test of yesterdays high followed by another bearish cs formation for a short entry.
Longs can be considered at the support levels after bullish cs formations.

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 after a test of yesterdays high, 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 to test support,  followed by a bullish cs formation telling us that support is holding.

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

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