8.11.10 EUR/USD

Yesterday’s attempted rally was unable to breach the downward channel trend line leaving me with a bearish bias. And I couldn’t have been more correct. We also broke through the long term uptrend line from early June, setting the tone for a tremendous sell off that erased two weeks worth of gains. Here is a chart of the rally attempt as posted to twitter at 2:29 8.10.10… And where we stand currently. I expect a healthy bounce and will be stalking shorts on thursday 8.12.10.

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