EUR/USD close to 1.4700

Posted on 16. Sep, 2009 by admin in Uncategorized

Tech tipsComputer Tricks

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.

EUR/USD

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.

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Trackbacks/Pingbacks

  1. Possible EUR/USD trade | TradeProfits - 21. Sep, 2009

    [...] is an update to my last post about the EUR/USD, which you can read here. As mentioned, I am looking for a short entry on the EUR/USD, and things start to look better. [...]

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