Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: “It is possible that an incredibly important top is in place at the May 1 high. Even if a top of importance is in place, there will be bounces along the way.” 1.5220, the 50% retracement of the rally from the March low, might be a place that produces a bounce.
FOREX Trading Strategy: Decreased position size at 1.5220 - move stop on rest of position to 1.5390, increase short position above 1.5300
LEVELS: 1.5075 1.5127 1.5218 1.5268 1.5319 1.5384