I am thinking "long" riiiight here-ish...

Seeing as how Quantitative Easing is continuing full force (regardless that the FOMC is now thinking of tapering it off, it is still continuing), then I expect USD to continue to drop. Europe is a mixed bag, but not in a panic, so at least the general picture there is stable. So, I expect EURUSD to incline upside. On the daily chart, the trend is still up, despite the strong recent pullback:

I am looking for good places to long from. The most recent demand zones underneath price are found way back on January 10, 2013.

Depending on time of day that price reaches these levels, and any upcoming volatility events, I'm looking for something riiiiiight here:

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Comment by Andrew Lewis on February 26, 2013 at 3:41pm

Waaaaa! :( too many things like chaotic Italian elections and friggin England being downgraded ruined my setup, but hey, you can see it got stuck in my levels, small consolation ;)

Comment by Andrew Lewis on February 26, 2013 at 4:26pm

Hey, if price goes lower it will make a "lower low" on daily chart, signalling a daily change of trend.


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