Wednesday, August 19, 2009

EURUSD and others at critical point

EURUSD pulled back a bit off the highs allowing us to exit our short trade without a loss. The 1.4250-70 area is enormously important as a break of today's highs would indicate a very bullish signal. If oil breaks its recent highs around 74 it could explode higher sending USD down across the board. USD index is closing very weak but still holds the recent low around 78.20 area. Break of this level would send the buck to 77.50 lows.

EUR, oil, $USD index... regardless of the direction it is likely to be exciting session tomorrow.

Good trades

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