Having EUR/USD this low as most other risk assets as commodities and stock markets I suspect that price will probably find support just ahead of 1.31 and most of the long term traders will look to buy in the 1.31 area with a stop around 1.3050 which is just below last Wednesday’s and Thursday’s lows and by the end of the tomorrows London session the market will be ready to bounce towards 1.33's levels with some resistance around 1.32.
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The true fact is market doesn't care, risk mgt is important.
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Charts are never wrong, but the chart reader often is.
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- Edited 11:07am Apr 23, 2012 10:56am | Edited 11:07am
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