January 27, 2009 04:29

Forex Signal – EUR/USD Bulls Charge Against Trend

By:

1-27-09

4:26a GMT – First off thanks for all the comments and questions I get on a daily basis. I don’t always get to all of them but If you do have a question or comment the best way to get in touch with me is at our forex forums here.

On to the signals! The bulls made a big push yesterday, charging straight through my sell zone at 1.3020 and (thankfully) never giving me a bearish reversal signal or any sort of sell signal. While this upward push definitely puts another mixed signal in there, as long as the pair stays below daily resistance at 1.3385 I am still looking for selling opportunities.

Trading Idea: Selling rallies preferred, with nearest resistance at 1.3375. As always, use candlesticks to confirm the sell signal and catch it on the way down. Tight stops with targets down to 1.3075 and 1.2905. If 1.3375 is broken look for 1.3545.

(click to enlarge)

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