EUR/USD 9 JULY 2012

EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg

We have a new AB swing , with the A up at 2400.

FOR TODAY:

Price retraced to the 382 of this swing thus far. 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 setup 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.