Monday, August 10, 2009

Shorted EURUSD when price is rejected by 23.6% Fibo on H1 chart and falls below 1.4200, price target just above the -23.6% Fibo on H1, however, there are strong support on H4, namely the 61.8% Fibo, the 200EMA and the 76.4% Fibo on H4. Hence if price momentum fails to penerates the H4 support, look to close the trade.

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