Friday, August 08, 2008

Downside Objective In The Euro



It's pretty obvious now that there is a double top in the Euro.. I was actually long the Euro looking for this currency to break higher 3 weeks ago but when I saw that resistance held I exited my long position at a small loss..Whew!

I marked off on the chart my downside objective for the Euro based on the double top formation. I'm looking for this currency to trade down to the 146 area.

No comments:

DISCLAIMER

This site may include market analysis. All ideas, opinions, and/or forecasts, expressed or implied herein, are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the markets. Trading and investing involves high levels of risk. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise.
 
Google
Technorati Profile Finance Blogs - Blog Top Sites