This pair is without a doubt one of the toughest pairs to trade at the moment. We have seen the triangle retested, and it has held. It appears that we are entering a new bear market, and this pair should be sold only. However, the 80 handle is without a doubt major support. A daily close below that is going to send this pair much, much, much lower. Until we break below that area, you should sit idle. Buying this pair is not recommended.
More March 16, 2011 Analysis:
