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Sunday, May 24, 2009

EUR/USD Trade



As promised I entered the short sale when the FOREX opened.

My position is at 140.03 the dashed green line. The small red arrow denotes the origin.
I placed a stop loss at 140.51 the dashed red line and plan to take profits at 138.40 near the 38% retrace.

I had hoped for a slightly stronger dollar at the open, but this may be all we need to push the SPX down past 876 this morning. It's still up in the air and we will know in about 20 minutes.






Analysis presented on this blog has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.

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