Wednesday 6 March 2013

EUR/USD 6 MARCH 2013



Price still largely sideways on this pair as we are still waiting for a retracement to the 618/786, where, if we find resistance and a bearish cs formation, we will enter a short trade setup.  Else if price rallies then we looking for reversals on a sustained break of 3162.

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Will be going long if:
No long setup at present. We don’t have any entry criteria for long trades at present, stand aside.

Will be going short if:
We need a retracement to the 618/786 where we will be looking for short trade setups.  A sustained break of the A high starts a reversal on this timeframe.

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