The EUR/USD came down to my predicted target region of 1.4020 - 50. It then rebounded to close last week's trading at 1.4140.
For the coming week, the EUR/USD could move back up to the regions of 1.4300 to 1.4400 before turning back down again.
Good to try to long EUR/USD around 1.4100 - 30 with a tight stop loss. If not, wait patiently to try to short the EUR/USD around 1.4300-50.
Sunday, January 24, 2010
Wednesday, January 20, 2010
EUR heading down?
The EUR dropped below 1.4300 this morning as I type this. It looks quite probable that the EUR is likely to continue to retrace and my 1st target would be around 1.4020.
Let the market tell you where it is heading. Do not chase it. Be patient.
Would be good to look for long entries around 1.4020 with controlled stop loss.
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