I think it is... for the most part... too difficult to trade against the long term trend, that is the euro rising against the dollar. The odds in your favor are a lot greater that way. If your selling short as soon as you close the short go long... a lot less worrying
ImPO EUR is a sell at the moment, based on method that I use we have weekly chart as bearish & daily chart has now put in 2nd failure swing on 2nd lower histo peak, also the most basic condition of any market is there - we are near the high point of current uptrending oscillation (buy low, sell hi), indicators are calling for a substantial retrace at least, ImPO it's a SELL (this is a snap of current daily failure on lowered histo, this pattern is one of the best patterns for spotting weakening uptrending price action) <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1958566>