EUR/USD Swing Short Set Up

by: Monday, February 1st, 2010

The 240 minute EUR/USD has been heading lower as prices have been in a mark down cycle for a solid two weeks.  It’s the corrections in this downtrend that the focus should be on, not necessarily reversals, especially in such a strong downtrend.  The correction levels are aggressive at the 1.3900 level and conservative at the 34ema low which is currently at 1.3976.

Entry   1.3976 short

S/L         1.4010

Target  1.3920

For educational purposes only.

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