June Trade # 4 - BUY EUR/USD

June 2, 2009 3:30 pm (Manila)

Trade got stopped-out at -40 pips/lot for a total of -80 pips. Looks like a retracement of the currencies that strengthened against the dollar has began. USD is strong across the board.

===============================================

June 2, 2009 7:30 am (Manila)

BUY EUR/USD @ 1.4171
STOP - 1.4131 (-40)
Limit 1 - 1.4205 (+34)
Limit 2 - 1.4235 (+64)

The dollar fought back and this pair went on a brief retracement this morning but a bounce formed on the hourly charts at about 6-7am.

Fibo, RSI, MACD and Slow Stochs indicate a room for an upward thrust.