Update from this post
http://blog.vikasverma.com/2010/01/watch-out-for-139-in-eurusd.html
The pattern is looking quite confirmed but we will not jump and fire the gun. Hold the trigger until it break below the down channel line. Once it break the down channel and came back above that’s where we will go long.
I am expecting that to happen somewhere around 1.3875-1.3885
I will book my current shorts around that area and wait for it to come back above the line to go long and hold it for couple of days and see a very good rally back in Euro
Another Update: Euro correction looks complete as it broken below 1.39 and I am out of my shorts. I have my limit order at 1.3890 and SL is around 50pips
Wow as I was typing my order get filled in … and Euro retraced around 15pips in a fraction of minute.
USDJPY also completed its first target.
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