Tuesday, July 12, 2011

EURUSD at Good Spot to Sell? 12:45 PM CST 7/12

Here is a 60 min chart of the EURUSD future

Opened the week at 1.42, sold as low as 1.38 at night, now we are back at 1.40. You don't have to be a rocket scientist to figure out that it has retraced 50% of its move at this point. Combine that with some resistance just above 1.40, and further combine that with some high wick low body candles indicating selling in this area, and you have a compelling case to sell.

I sold 1.40 with a 1.41 stop.
My conservative target is 1.3775
Aggressive target is 1.3625


  1. Puked at 1.4040 when I woke up.

    I think risk assets (euro snp etc) are setting up buys for the next few days. I will post on that in a bit

  2. guys, please could do a piece of NZD/USD, GBP/NZD and USD/CHF if possible?