16 May 2013

EUR/USD : Daily Double Top

  • Had not seen this when I did the earlier post today on the weekly SHS top.
  • On the daily chart, there is a double (or even triple) top around the 1.3200 level. Neckline for the formation is at 1.2953.
  • Tonight's surprise spike in US initial jobless claims to 360K has caused general USD weakness. Have made use of the opportunity to increase long USD positions here.
  • Trade : Sold EUR/USD -1.2918 vs the daily DT NL at 1.2953. Also increased gold short at 1387.
  • This EUR trade is quite separate from the weekly SHS trade I am stalking as per the earlier post today. This is based on the daily DT, with a tight stop here above the DT NL nearby.

1 comment:

Taichiseal said...

Short at -1.2918
Stopped out at +1.2894