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EUR/USD Trade Plan To Get Long Ahead of All-Time Highs
By Todd Gordon | Published  07/8/2007 | Currency | Unrated
EUR/USD Trade Plan To Get Long Ahead of All-Time Highs

EUR/USD is looking well bid while trading above 1.3580 for a third wave of final wave 5 push to and through the 1.3635 high. I am anticipating a three-wave pullback Gartley pattern into the 1.3600 zone that we will use to get long the first half of our position. I wrote an article last year in Stocks and Commodities Magazine about this exact setup. In the event that stops below 1.3600 need to be taken out before EUR/USD approaches the product's all-time highs, I am bidding around 95 for the other half with a stop for both halves around 1.3580. I will book profits on a half position and trail the remaining stop on the balance to half.



Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

Disclaimer
The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase or sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.