Monday, August 2, 2010

Euro Short Chance

The euro-dollar is coming up to strong resistance at 1.32.  From a purely technical trade, there should be choppy trade as the euro trades against strong resistance.  We could see range trading from 1.30 to 1.32 for the next couple of weeks.  A short at 1.32 provides a good risk/reward ratio.  With a modest target between 1.29 to 1.30.

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