US DOLLAR 24 JUNE 2012

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

Price rallied to the 618 of the AB swing thus far.

FOR TODAY:

We need now need a bearish cs formation from current levels, or higher up for a short entry.

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

SHORT: Will be going short only IF:

We need a test of the 618 followed by a bearish cs formation for a short entry, if the 618 doesn’t hold, then we look to the 786 higher up.

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

LONG: Will be going long today only IF:

No long trades at present.

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