Tuesday, June 14, 2011

EUR/USD Divergence before Bernanke 6/14

I posted yesterday about a possible continuation divergence forming in the EUR/USD pair along with a shooting star, and while it went down momentarily, it has rallied hard overnight and today. I see some divergence lining up from the MACD as we rally all day and think it might be another chance to sell or fade an earlier position. I'll state that this is not a trade for the faint of heart as we could easily see a big move either way with Bernanke set to blab in about 30 minutes.

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