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Tuesday, December 30, 2008

EU: Time to Sell

The pair has retest previous high and reach as high as 1.4361 today. 50% Fibo level (red Fibo) was broken earlier on H4 chart but retrace below the level again for the moment. The day (FxPro server) isn't over yet but it seems that the 50% Fibo level (red Fibo) has provided a strong resistance. Below are the charts. The pair seems to form a head and shoulder formation. I also add AB=CD projection which is near the target mentioned on my last post about EU (50% yellow Fibo). Time to sell? Maybe. The thing is that the price needs to break the neckline first to be sure and indicators on H4 chart still shouting my name, told me to buy. Okay, I'm sleepy already. Bye, see you guys next year :)


One more thing. HAPPY NEW YEAR !!

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