EUR - USD 3 JULY 2009 ( RESULT LOSS )

The EURUSD failed to continue it’s bullish momentum yesterday. The pair was unable to stay above 1.4176 area bottomed at 1.3988 and closed at 1.4002. The Greenback was in fact supported by risk aversion following worse than expected NFP data. Technically on h4 chart below, the trendline support has been violated to the downside indicating potential bearish outlook.

11PIPS WITH ROKOKSALEM

SHORT/SELL : 1.3984 ET /TP: 1.3973 SL: 50PIP