Tuesday, June 18, 2013

Short EUR/USD at 1.3400/3430


Initial Stop Loss: 1.3450/3480
Initial Profit Target: 1.3310
Reward/Risk Ratio: 1.8/1.0 or 2.4/1.0
Rationale (on 1-hour chart):
1)      Strong resistance level at 1.3400/3430
2)      Potential bearish pattern – rising wedge in an uptrend

 

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