So, I decided to sell EURUSD at 1.5634, when technical data looks relatively supportive.
June 22, 2008
Jeddah Summit, Euro PMI, German IFO; Betting on the limits
Some OPEC members showed willingness for limiting oil price, at least in their words, which could work in the short term, and selling oil is usually dollar positive. This Monday might is not a promising day for Euro when Purchasing Manager Index for France, Germany, and Euro-zone, in addition to German IFO Business Climate all are expected to show weakness in euro area. Anybody who wants to buy Euro may find it at a cheaper price in the next 10 hours.
So, I decided to sell EURUSD at 1.5634, when technical data looks relatively supportive.
So, I decided to sell EURUSD at 1.5634, when technical data looks relatively supportive.
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The data from Euro was weaker than expected and the decision resulted in profit. Details could be found in the next post.
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