Wednesday, July 28, 2010

EUR/USD Plan for today

We are currently sitting below the daily central pivot which I believe we have one more leg down to the 1.2950 area. At this level I believe we will pick up some buyers and tecnically achieve a higher low on the 1 hr. The 4 hr chart has reacted off the 4 hr 21 ema which is to be respected. I plan for a long in these areas and look for price to trade back above the central daily pivot during the London session.

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