Eurusd trade chart 3 Sept 2011

I was bearish toward Eurusd as long 1.4550 was holding & failing to break. Also seeing last week Greek 2 year yield bouncing above 40% was the trigger. Charts backed that showing a bear flag building after this week opening first consolidation and then quick drop.
After Ny closing each time the question was bank or stay in trade. Important to understand why staying in trade as each time key support was still under pressure and no reaction in asia and stock market was back bearish at euro zone debt. Eurchf too was accelerating and moved back below 1.15 showing too risk off & flight of Euro.

Better check the chart so clean trend & move.

Eurusd 1h 3-9-2011

Your comments too are welcome and you can always reach me on twitter @fx_13.

(Please click on the forex chart thumbnail to enlarge)

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