EURUSD 12-27-06

12-27-06

EURUSD

Hope everyone had a nice Holiday. The EURUSD is trading in the 1.3100 to 1.3200 range for the last couple of days and you should have had a chance to enter a long trade at 1.3100. If you are long, the first target of 1.3160 has been reached and the EURUSD is retracing. I would move the stop loss to 1.3122 on the position. If the breakout area at 1.3130 holds, then the EURUSD has a chance of trading up to the 1.3200 area. If not, then the trade will be closed and the EURUSD will re-test the 1.3100 area for another long entry.