Monday, May 3, 2010

EURUSD BROKE A SUPPORT ZONE AND TESTING IT

We may see the EUR depreciate against the USD today with a break down a support zone at 1.32560 as seen in the 1hour timeframe.




Going down the timeframe at 15min timeframe,

we wait for a good retracement to the 38.2% of the down turn and would consider a SELL between 1.3276 and 1.3242 with a stoploss at the close above 1.3325, Take Profit expected at 1.3142 if we are right and not putting at risk above 1% of account balance.



Enjoy.

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