I've just looked at this pair and noticed a very good re-tracement that started on 5th January 09. My indicators tell me that it will go all the way up to 2.81 I would appreciate is someone with more experienced than myself thinks this move may take place .
This late in the move it may be worth waiting to put on a short in that range instead of trying to catch the final part of a move.
hate to tell you this but 2.81 isnt resistance your indicators are telling you? just wondering if your indicators account for news ... trader and investor psychology changes.
I got the general direction right but not the timing. Technically forex has no time value(but it does have rollover).