Monday, June 27, 2011

EUR/USD Heading lower 6/27

It's been a little longer than usual for a post, partially because the markets have been kinda slow and I've been kinda busy at work so with no real wonderful opportunities I just decided to say nothing. It looks like we might be getting a chance to sell the euro short here though as we spiked up this morning and now look to bounce off the 50% retracement of the downmove from 1.45. We also have continuation divergence forming with the MACD as it pulls back farther than price relative to its last peak. The lower time frames are showing some candlestick patterns to enter off of, but I'll wait for this hour to finish to see how it looks.

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