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Trade Setup Update (Feb 8)

By:   gladiator smith
  • 08-02-2008
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The euro initially rallied back to 1.4550 before printing a new low of 1.4438 and the 1.45 handle has acted a resistance. Keep looking for a place to get long as price moves back down into support. Keep an eye at 1.4450-1.44 to establish new longs. We’ll most likely get a few chances at the trade so be nimble and ready to take action when the opportunity presents itself.

So far 1.94 is still holding on the cable. Watch how price reacts at this level going into the London session. If price pushes lower, I would start looking to put new longs on around 1.9350-1.93. I’ll send out an update if things change.

Happy Trading

Juan Saton


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