4-27-09
4:26a GMT – EUR/USD is coming off of a strong bullish week but I am still bearish on the technicals and the 4-hour chart below shows why. The pair is still consolidating downwards from last year’s bullish Euro moves, with lower lows and lower highs being made every month or so. Their is no strong fundamental reason to believe last weeks push was anything more than further consolidation.
Trading Idea: Looking to sell near resistance at 1.3300 (or below on the right candlestick signal), with short targets preferred down to 1.3245, 1.3195 and 1.3125.
(click to enlarge)
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