Tuesday, August 2, 2011

[01.08.2011] Nikkei - JAPAN PREPARES FOR CURRENCY INTERVENTION

Been a landslide for the euro the whole day especially after the U.S data just now. Retracement for the Euro should be done at 1.4240 area and I'll advise a sell. Meanwhile there has been rumors that Japan are preparing for intervention. It can either be acquiring Euros or the Dollar but my spider sense has prompt me to go in for the USD/JPY with a tight SL.

Trade Plan :
Sell Eur/USD @ 1.4240.
Buy USD/JPY @ 77.09

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