Special Update on EUR/USD

By ForexAlerts.ca

The following is a recap of our call on the EUR/USD pair and how we recommended subscribers to trade. This morning the EUR/USD traded up past our range of 1.29942 (seen below) which is were we felt would be a solid short entry.  We closed that trade via twitter this morning at 9:30am for a PL: +141 pips profit

Yesterday's Commentary:

EUR/USD is trading within a 1.27201 - 1.29942 range. We are on the sidelines.

The outlook is bearish, but the pair needs to have some kind of a rally for us to get short. We want to establish a short position anywhere between 1.29942 and 1.3018.

Today's Commentary:

EUR/USD is trading within a 1.28356- 1.3018 range.

From yesterday's report: “The outlook is bearish, but the pair needs to have some kind of a rally for us to get short. We want to establish a short position anywhere between 1.29942 and 1.3018.”

We opened a short position @1.2994 and covered @1.2853 (Twitter notification to cover).

At this point there is no future analysis. We had very extended moves to the downside. We have to see how the pair trades within the next few days.

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