Eur Usd Analysis 10 Jul 11

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Hey Everyone,
A quick update on Eur/Usd today, since I’ve been watching it like a hawk over the last couple of weeks.

I’ve been expecting this pair to drop under 1.4000 for weeks now, but it just hasn’t been able to do it. Everytime it gets close, it’s been pushed towards 1.4500 only to come back down again.

Here’s a daily chart I made over the weekend:

Eur/Usd Chart

I really think that this time it’s time to sink for the Eur/Usd, and that the last few weeks of consolidation and futile attempts to bring it higher are over.

I expect the rising trendline at around 1.3850 to be reached sometime in the next 2 weeks, and what will happen after that is still a mystery.

For now I’d recommend shorting 1.4280 if it gets there this week (or if you want to take a risk, short with a stop above 1.4300), and otherwise wait it out for a better opportunity.


- Thanks for Sharing!


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2 Comments


  1. Diggy says:
    July 12, 2011 at 4:37 am

    Currently trading at 1.3960. Analysis was spot on :)

    I took a short at 1.4200, closing it here at market for +240 pips.

    [Reply]

    Reply
  2. Diggy says:
    July 13, 2011 at 2:57 pm

    Huge rally from the lows yesterday, I’ll recommend a short here at 1.4165 with a stop above 1.4220.

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    Reply

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