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Vachus
Oct 24, 2013 3:17 PM

Why EURUSD has reached the top ?  Short

Euro Fx/U.S. DollarFXCM

Description

The Daily chart shows a nice price movement pattern of the last 6 months. Basically price was removing resistance of odd numbers : 1.27 , 1.29 , 1.31 , 1.33 , 1.35 , 1.37 while stopping at or a bit above the even numbers ! 1.28 , 1.30 , 1.32 , 1.34 , 1.36 , ... The pattern was maintained during major fundamentals and global macro economic changes. You can see that on at the designed numbers. So, in my humble opinion this Euro break was little on fuel since it never returned to reload its power from 1.34

Sell EURUSD 1.38050
Stop lose 1.38600
Take profit 1.34050

Trade wise and with sound money management
Comments
Vachus
Trade Update : If you care to be a bit greedy , take partial profit at 1.34 - while leaving the main entry on break even and new take profit : 1.28
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