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EURUSD: Retracement it is…

Since last December the EURUSD has been falling like a rock, it follow through on January and the first days of February. But we might be on the way of a small retracement (at least to the next LT resistance level):

EURUSD

EURUSD

It broke the resistance of the short term range and it is likely to continue its way up until it reaches at least, the next LT resistance level.

My Plan:

Look for long opportunities if the EURUSD keeps trading above 1.3707. Next LT resistance level is at 1.3846

All short opportunities will be ignored.

Trade Safe

Raul Lopez
StraightForex
http://www.straightforex.com/

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This entry was posted on Tuesday, February 9th, 2010 at 1:49 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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