Sunday, August 5, 2007

EUR: New Top Got Formed At 1.3850...Is 1.3580 New Support Now?


(CLICK ON THE CHART TO ENLARGE IT)
The 38% fibo of last up move (1.3265 to 1.3850) at 1.3625 worked very well as support. But my Long entry point at break of 1.3680 would have required a large stop. I´d have gotten stopped out on this long, probably. But good thing is that I was right in my last analysis where I bet on a bullish move. See the 04-hour chart for last week´s bullish move.