US DOLLAR 13 JULY 2012

USDOLLAR - follow me on twitter @fxdailyforecast and stocktwits.com/fxg

Price rallied to take out the B high giving us a new AB swing.

FOR TODAY:

We will now have to wait for a retracement down to the 618/786 of this AB swing for a long entry.

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

SHORT: Will be going short only IF:

No short trade setups at present.

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

LONG: Will be going long today only IF:

We can consider a long position if price finds support at yesterday’s lows.  Else lower down at the 618/786.

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