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EUR/USD (Swing
Trade Set-up)
Excerpt From The DT Daily
Forex Report Dated:
8/27/2010
Dual Time Frame Momentum: With the (8) daily and (34) 60M DTosc's bullish, the net trend should be sideways to up over the next few trading hours.
Pattern: August 24th is in the position to be a W.C:2 or B low.
Price: Today's high is in the typical W.D target, the 50%-61.8% retracement zone of the August 18-24th decline at 1.2753-1.2793.
Time: Ideally, a W.D high should be complete by the 100% time retracement of the W.C decline, August 30.
Summary: With the (8) daily DTosc bullish, the net trend should be sideways to up for at least another trading day before a W.D high is complete.
EUR/USD Swing Trade Strategy
Stand aside. The immediate upside should be too limited to consider long positions at the moment.
Each issue of the DT Daily Forex Reports provides charts and commentaries for swing traders.
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