Saturday, June 19, 2010

EUR/USD Trade Plan for early next week.

Looking at the Euro for early next week I have come up with a couple of options for either direction. My bias is for the 1.24522 level to be broken and then a retest of 1.2400. The 1.2400 level should hold if this happens and I look for price to reach 1.262 resistance. Now if price breaks the 1.22414 level then I feel we will get a retest of the 1.2300 level and then continue down to 1.2130 level support.
Let's see what happens. I will try and update this plan this week.

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