Enjoying another week of successful trading. I called the fake out to the upside Monday and today got the conformation I was looking for to the downside. I now expect the EUR/USD to target the 1.2950 level. Along the way reacting to the 1.305 and 1.300 levels i will look for bases forming and scale short positions. I will add to these positions as price tells me to. Currently we are in a range with a 1.30514 base low and a 1.31216 base high ceiling. Upon conformation I will enter accordingly. Follow me on twitter at https://twitter.com/#!/dgib1038. Long term I am still somewhat bullish as price will have to let me know at the daily 38.2 fib retracement level (1.29484) on the daily. If buyers step in at this level I will target the 118% fib extension level at 1.36412 and this is where I will have to evaluate my position. See my daily chart below. Also see my other blog at http://www.tradewithmeforex.blogspot.com/.
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