EURUSD 8th July 2013

Last Thursday (4th July) the ECB head Super Mario made a dovish statements and pledge the ECB will remain the interest rate low for 'as long as it needed', helping the bears' victory on that day and followed by the 2nd day NFP data came out 195k better than market consensus 163k and also better than ADP data 188k on Wednesday, pushing the pair lower and traded near 1.2800 level.

Since there is still many issues on the Euro sides such as the Portugal political uncertainty, Bond Yields hikes,  whether Greek can get their next trance on Aids etc etc.... i remain bearish for the pairs fundamentally... Of cos, the better than expected NFP data helped a lot as this data is supporting the investors' bullish bias on the dollar and the FED tapering might just happened as they mentioned earlier. But the daily charts shows its trading near to a strong support, so i'm going to wait for the price to make some correction which is near to the trendlines, then i will make a sell.... now, i think i'm just gonna stay side line until tonight US market open, see how others traders going to react.

Below is  the price range that i'm planning to sell the EURUSD, lets see what happen tonight.

trade update, 9th July 2013, 15:20

Sell Limit triggered, lets see whether the upper channel can hold or not.... 50pips SL 100 pips TP.