KaizenTrader

Very important retracement line cross/rejection

FX_IDC:EURUSD   Euro Fx/U.S. Dollar
Still biased short due to Greek and Eurozone uncertainty. Will be closely observing whether we break the overlapping 38% fib retracement lines or we get a rejection. I am expecting a rejection due to the somewhat recent start of the bearish continuation of the Euro             trend. However, if price breaks above expect to see it reach the 61.8% fib level before possibly going back down again. I am still unsure as to whether we are retracing a bullish move from April             or resuming the strong bearish move that started last week.

Goodluck this week everyone!
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