Wednesday, 4 July 2012

This is the 4hr chart for euro/usd i am still holding my short from 1.2619 from yesterday . i have added to my position at 1.2570 the main trend line has held resistance from the daily chart and a minor resistance trendline    has been establish from the 28th june my target is 1.2450 area which i am hoping to reach before interest rate decision on thursday. expectations are for .25 basis point reduction tho there are some expectations of a higher rate cut.  

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