EURUSD 1-12-07

1-12-07

EURUSD

There was a pullback long trade entered yesterday at 1.2940 early in the morning that was exited at the first target of 1.2989 and closed at 1.3000. The second profit target of 1.3031 was not reached. The EURUSD sold off to below the 1.2900 price level and has since bounced. It has pulled back to the 1.2900 area already this morning and it has rallied. If it pulls back to 1.2900 again today, I will enter a long trade with a first target of 1.2932 and a second target of 1.2957. I will trail my stop by 20 pips once the first target is reached.