Tuesday, 7 August 2012

EUR/USD 7 AUGUST 2012


PLEASE SEE MESSAGE AT THE TOP OF TODAY'S BLOG AND THE POLL ABOVE.


EUR/USD – follow me on twitter @fxdailyforecast and stocktwits.com/fxg
We are still in the AB swing with price approaching the B high.

FOR TODAY:
We will wait for a retracement down to the 618/786 of this swing followed by a bullish cs formation for a long trade set-up.

A sustained break of 2442 negates this view and continues the uptrend.

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

SHORT: WILL ONLY BE GOING SHORT IF:
No short trade set-ups during the retracement, the trend is up.

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 will wait for a retracement down to the 618/786 followed by bullish cs formations for a long trade setup.

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

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