Monday, June 8, 2009

EUR/USD: Standing Aside +61 pips today

I am standing aside for now. I will be watching how price behaves as it retests bottom trend line of ascending channel. I am still looking to short but am remaining cautious due to the possible hammer bottom forming on daily. I will feel more comfortable shorting as long as price remains below the 21 exponential moving average (EMA) on daily chart. I am posting my trades in real time on twitter so stay tuned.

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