20 March 2014

EUR/USD : Crossroads Part 2

  • FX markets interpretation of FOMC changes = hawkish = firmer USD.
  • Monthly : Traded back to below the upside breakout line.
  • Weekly : Possible evening star being formed = reversal to downside.
  • Daily : Yesterday's FOMC driven price action = strong reversal. Today, an uptrend line is being tested.
  • Trade : Initiated fresh small short position at 1.3799. Go with the downside reversal for now. [Neglected to look at the chart this morning, or else would have put on at a better entry level]. Gotta keep at it till it works.


Taichiseal said...

Added on -1.3773

Taichiseal said...

Stopped out +1.3825