Rule number 2: When the fundamental and technical outlooks for a currency differ, always side with the techs.
We saw a prime example of that earlier this week when EUR/USD raced higher on the first signs of an EU deal to bailout Greece. If you’d held your nose and sold EUR/USD strength you’d be a happy chappy today. We touched the descending hourly trendline overnight and rejected it decisively, making the line stronger.
Plan your trade, trade your plan…
