Thursday, August 27, 2009

eurusd projection, do we have a top?

The eur/usd found resistance in the form of the upper fibo channel and the 161.8 ext. of wave W.
To be sure a top is in, I am waiting for the MA 9 to cross the MA 12 down, with the 4h MACD crossing down as well. I will then place a short with the stop above the most recent lower high.

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