Yesterday's EURUSD Signal Result: The markets slowed down yesterday, waiting for each little hint of news about whether Cyprus would be able to secure a deal or whether they will be the first to leave the European Union. That question still remains with more news likely through the weekend. Whether that news is positive or negative is essentially a coin flip at this point (though as a trend trader, I feel obliged to point out that the trend has always been for these bailouts to get done in the nick of time). Since we only trade when the odds are stacked in our favor we will stay flat going into the weekend and hopefully let the markets work out some of their nervousness.
No trades taken yesterday to report on as our resistance line held firm.
Our Trade: As mentioned above no trades will be taken today but, we are still bearish on the pair (despite the open gap!) and would not be surprised to see 1.28 by the middle of the day. Of course, I wouldn't be surprised if we saw 1.30 either, hence the reason we are flat today ;).
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