9-11-08
3:26a GMT – The short trade continues to dominate as the downtrend strengthens in the EUR/USD with most technical levels of support breaking in the last few weeks. I’ve been advising to sell the EUR/USD for the past few months now and it has paid off nicely. Risk now is the oversold levels and a bounce ease off. That being said the trend is down and I like the Fibonacci 50% target at 1.3850.
Trading Idea: Short trades favored below 1.4050 down to 1.3850. Above 1.4050 look for more gains to 1.4150.
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