Posted by: joetradingplace | May 2, 2012

Daily Analysis (Forex) 02-05

Eurusd

We were hoping that the market will have a clearance thrust to the upside before it drops. Instead it broke the blue TL to the downside, it then pulled back forming a minor R…as long as the minor R holds, we had a bearish buyers, we sold at 3190.

1st target has been reached at +20, Sl to BE, now waiting for the remaining 2 targets

Usdchf

Same explanation as the eurusd, but vice versa

1st target has been reached at +30, SL moved to BE, now waiting for the remaining 2 targets.

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