Sunday, September 4, 2011

EUR/USD update

1.41 is almost here. A lot of weight on euro's shoulders due to econodata, ECB, and German court ruling this week. Trailing the stops down is a must though, any positives can set of a vicious short-covering rally. Next support after 1.41 is at 1.4050 and then 1.40 below that. I am in a bear camp, but one has to be less bearish at 1.41 and 1.40 for sure. Scale your shorts out, imho.

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