Monday, May 18, 2009

EUR/USD: Standing Aside


30 minute chart: I will look to go short if i get a break and retest of 21 EMA (yellow).

4 hour chart: Price met resistance at 61.8% retracement level and stochastics seem to be headed down. I don't like to short unless stochastics crosses below 80. With a break and retest of 21 EMA on 30 minute chart that should happen. If I take this trade I will post with target.

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