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Markets Consolidate

Published 05/30/2013, 07:28 AM
Updated 07/09/2023, 06:31 AM
Yesterday’s EUR/USD Signal Result:

The markets mostly consolidated sideways yesterday, not triggering any of our trades. Stock markets around the globe have been acting jumpy of late (the Nikkei and the Dow, for example). Whether that jumpiness translates into big forex movements is yet to be seen, but there has been a general disconnect between equities and currencies of late, perhaps due to the increased confidence in the US and European economies.

No EU trades to report on as we stayed flat without a solid support or resistance to swing off.

Our Trade: On the larger timeframe charts the pair is at the top of it’s hourly channel and, in part to be a hedge against GU, if we do see a support break on our aggressive support we will get short with a TP of 80 and a SL of 50.

EUR/USD
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