Hi Traders,
We are heading into a critical area of the S&P, and I am going to be watching the 1153 to 1160 area for signs of failure. With this in mind, I am trading looking for a pull back in the EUR/USD. I have placed orders to buy a unit at 1.355 and another at 1.352. I am placing stop losses at 1.3495 for both units. I will sell the first unit at the target price of 1.3620 and 1.3640 for the second unit. (Trade C047AS)
I am also looking at the EUR/GBP for a pullback. I have placed an order to buy if I see 85.80 and another unit at 85.40. A stoploss order will be placed at 85.40. I am looking to take profit at 86.10 and 86.45. (Trade C048AS)
Please stay tuned for more updates. If you would like to get immediate updates of my forex trades, I encourage you to follow me on twitter. It takes only a couple of minutes to sign up for an account if you don't have one already, and you can set it up so that you get my twitter messages right to your phone as soon as they are posted. We will continue to develop this service over the next couple of months.
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Talk to you soon,
Aaron
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From the Desk of
Aaron Reid
Forex Strategist
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