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Paul Koszarny · 15-04-2003, 08:56

EUR/USD moved higher yesterday but was sharply rejected at a next resistance 1.0799. Some 60pips below found enough buyers to gather steam from 9:00CET. Before New York's opening most bourses are faring very well, and the loss of correlation of the dollar with Wall Street indices is somewhat disappointing. So the situation has been unfavourable for shorting euro/dollar. From the point of view of TA a break above the last retracement of 1.0955-1.0555 will make sellers look like endangered spieces. I will try selling at 1.0833 with a very tight stop. Hope it's not a dodo trade. Meantime I shorted at 1.0793 for a few pips, already closed.

15-04-2003, 08:56	#3
Paul Koszarny Super Moderator Join Date: Nov 2002 Posts: 322 Downloads: 0 Uploads: 0 Rep Power: 0	EUR/USD still within Fibo region EUR/USD moved higher yesterday but was sharply rejected at a next resistance 1.0799. Some 60pips below found enough buyers to gather steam from 9:00CET. Before New York's opening most bourses are faring very well, and the loss of correlation of the dollar with Wall Street indices is somewhat disappointing. So the situation has been unfavourable for shorting euro/dollar. From the point of view of TA a break above the last retracement of 1.0955-1.0555 will make sellers look like endangered spieces. I will try selling at 1.0833 with a very tight stop. Hope it's not a dodo trade. Meantime I shorted at 1.0793 for a few pips, already closed.