Monday, May 25, 2009

EUR/USD: Standing Aside; +25 pips last trade




I am standing aside for right now. I am looking to take another long position. I am waiting for either a break and retest of 0.0 Fib level M30 (1.4049) or a retracement to the 23.6% Fib level depicted on daily to go long. If I get a break and retest of 0.0 Fib level on M30, my target will be the 161.8 extension (1.4143). If price retraces to the 23.6% Fib level daily my target will be 127.0 extension level (1.4225).

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