I got nervous today after watching that bearish divergence (price making higher high, indicator failing to make higher high) form in H4 stochastics. I locked in 3 pips and moved my stop up. Well, I'm glad I did. Currently, the EU is getting pounded after breaking through the 1.3550 support area. Price is currently approaching weekly PP and trend ling that was acting as resistance since December of 08'. I am watching that cluster of support (weekly PP, trend line, 50% fib level, and bottom trend line of ascending channel) closely. If all of that is broken through and retested I will obviously be looking to go short. If this cluster acts as support, I will take another long position. The daily chart is looking bearish at the moment, as evidenced by possible double top and stochastics just turning below 80.
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