Wednesday, June 1, 2011

EUR/USD 1,4410

EUR/USD is seeing some profit-taking as Europeans try and square up at the end of their day. We probed above 1.4450 barriers and the 50% Fibo of the drop from 1.4940 but were unable to hold those levels. We trade now at 1.4410. Bids are eyed in the 1.4395/1.4405 area; small stops are seen around 1.4390. Large stops are seen below 1.4360 if the pullback starts to snowball...