Saturday, July 11, 2009

EUR/USD: Bears In Control this Week?

(Click on the chart to enlarge it)

Bears seems to be in control. But with lots of important supports. The strategy Sell a Break seems so easy to do when in fact it is not.
So the strategy for the Euro is to SELL SHORT at resistance. See the 30-minute chart above for the main short-term support/resistance lines in yellow.
Now, below the 1.3833 / 1.3750 price zone we have a free-fall. So watch for this support zone for new short positions.