On our analysis on the 09.05 we indicated that we were still short EUR/USD
after the currency pair had risen towards towards 1.125. We saw this as a selling opportunity as EURUSD
failed to break the Fibbonaci resistance level
at 1.12514 and the RSI
rose to the high 70s before dropping to below 60. We now are still short and are looking for EUR/USD
to break the next Fibonnaci support level
at 1.11955 before taking some profit.