EUR/USD close to 1.4700

Posted on 16. Sep, 2009 by Jakob in Uncategorized

Click at the picture below, to see the chart of the EUR/USD. The pair is currently trading at 1.4662. Last time the pair traded at this level was in the middle of December 2008.

Back then it topped out at 1.4719 and reversed sharply. Now we are just about 60 pips away from level, and this might prove to be a good point of entry for a short trade. Both in terms of a strong resistance level which is also close to a psychological numbers, and from a short term fundamental outlook. I am going to bed now, and I might look to enter on a trade tomorrow on one the following days, if the right setup appears. I will probably be waiting for some stop-loss hunting to take place above 1.4700, and then enter on a short trade, on the way back. If I enter a trade, I will post all the details on Twitter, and I will try to send it out by mail to my subscribers. Should be interesting to see how this will work out. Stay tuned.

Tags: forex signal, my signals

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EUR/USD close to 1.4700

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