Sunday, April 19, 2009

Will the EU retest 1.3080/90 before break of 1.3000?


Right now 1.3015 seems to be holding as support. Should I wait for a break and retest of 1.3000 before going short? Why not? Or maybe 1.3080 will get retested before short sellers come back. Right now the Eu retraced to 23.6 at 1.3066 on the nose. If the 0.0 level gets broke and retested my target will be 1.2957 the 127 extension. Trichet's comments seem to be waying heavily on the EU right now.

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