The Euro forex pair looks like it's been downtrending for a while and the recent daily price action has printed two spinning top patterns. This shows some indecision in the markets and to me, looks like we may have reached a short term high before resuming a downward trajectory. In fact, todays price action was mainly south with a little pullback. I've shorted this at 1.2370 with a stop above yesterdays high at 12460. Looking for a minimum of a 1:1 trade here.. let's see how we get on!
Archive for August 8th, 2012