EURUSD 12-12-06

12-12-06

EURUSD

The EURUSD extended the range lower on Sunday to a low of 1.3129. The last line in the email from Sunday said to place a buy stop at 1.3202 to enter a long trade once the EURUSD traded below 1.3200. If you are long from 1.3202, move your stop to 1.3234 to lock in a profit on the trade. If you are flat, I would be interested in buying a pullback to the 1.3202 breakout area using a buy stop once the EURUSD trades below 1.3200. After entry, use a 10 pip stop loss and a first target of 1.3235 followed by a second target of 1.3274. Move your stop to even after the first target. It is also possible that the EURUSD will rally higher without a pullback to 1.3200. If that happens, I will buy a pullback to the 1.3260 breakout area.