Yesterday saw a relief rally in EURUSD following news out of Europe. Hindsight is always easy and finding the turning or stopping point in any market on days like that is a hard task. The price shot through the 50 percent Fib level of the May highs and October lows and and stopped on the preferred 61.8 percent level. Since then we have seen a fall away in the price. We may soon see a return to that level, which could offer an opportunity to take a short ahead of a Friday profit taking rally.
source from: tradingfloor
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