Friday, August 7, 2009

It's really a roller coaster ride after the non-farm payroll release, the earlier trade was nearly stopped out by 1 pip, but in the end hit profit target for 24 pips when the non-farm result is released.

As can be seen from the H4 chart, the price was stalled at 38.2% fibo. So how do we proceed from here? From the price action, it is more bearish for the EUR, so if price is able to retrace back, look for shorting opportunity.

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