Monday, May 11, 2009

EUR/USD outlook


The Euro gained value in the past few days against the USD, however it fails to break through resistance levels in the same period, seems to me the Euro is unable to maintain a winning streak indicating a pullback. Currently a short position @ 1.3583[9]. Although the RSI is < 50 in the 15 minute chart above, the 1 minute chart signals the Euro in overbought territory. SL = set to 30.
Exit strategy @ daily pivot point of (P) 1.3543.

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