Tuesday, July 24, 2012

Trade 1367 - Euro Long

Spanish Yields spiking and USD strengthening, we are seeing the euro linger near the 1.20 lows, and I have decided to take a LONG position at the 1.2111 pivot area after seeing the daily and hourly doji, with a position for a 1.214 price breakout - where I will add to the position.

The euro may ride the slowly rising sp500 and an oversold bounce on the euro.