8.12.10 EUR/USD

Well, we managed to get a small bounce. Price bounced off the 23.6% retracement in the overnight session sending prices to a lower low before the New York open. Then again attempted another rally that was shut off at the 61.8% retracement from the over night high, which sent price below yesterday’s value area. I will be watching to see the reaction of a retest of today’s value area high at 1.2884. If rejected I will again be looking for short opportunities in tomorrow’s session. If you like candlestick patterns you’ll notice a nice tweezer bottom on the 30 minute from 7-8 this morning.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: