Friday, December 17, 2010

Range play on the Euro?















Looks like Euro is in a range on the 4 hour chart (pink rectangle). 
green candles have just broken past the 23.6% fib level, and looks like we may just see the pair hit higher up again.

Now i overall still think Euro is bearish, so selling the pair at 1.3469 levels looks like a good level to sell.

But as always i'm going to keep a watch on this, because markets are thin at the moment and there's a chance we could see a breakout.  It's Friday as well, and i'm always extremely careful in opening a new position.

What's do you guys think?  

2 comments:

  1. Looks like it could go either way. I'd wait for a breakout. :)

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  2. Yup a breakout sure did happen. Good thing i didn't enter into a range trade!

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