09:45GMT The game of players are on its peak in EURUSD.. now they are about to babysit the UP trend to make traders do shorts and stop-loss.. The Uptrend will go Up more.. may be 161.8% is something to cautiously consider...
03:40GMT EURUSD important points of roofing - 1.3730ish (our weekly 127%), 1.3780-90ish is the last high/low reversal pattern 161.8%.. It will be interesting to see when & how players take the game.
01:00GMT Good Morning Friends, GBPs looking into consolidation; especially GBPJPY after yesterday's drop. UK PMI data will highlight the range break. USDJPY still thinking about reversal. The EURs are interesting - the climb is just for profit taking nothing more (there is no fundamentals in this climb) as the eurozone debt woes and strike actions will return. EURs are showing another climb pre-data of Umemployment and list of US data will make spikes. Its lucky that there is no NFP today, otherwise we will be witnessing some FX Storms ;D
Friday, 1 October 2010
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Is GJ taking on a new lower level and not going to look back up towards high 130's? It seemed to have every reason to climb but hasn't. Love the RSI's for a climb but the monthly and weekly look due for new drop. Instinct/feelings/deep thoughts??
ReplyDeleteDeep thoughts!! :D
ReplyDeleteGJ
Instinct & feeling - A climb; the current levels are at 50% of reversal that points to a two scenarios of UP and one scenario of Down. I prefer to go with majority i.e UP ( two votes). The fact that we all expect GBPUSD to hit 1.60ish point to 136.10ish for GBPJPY. First target will be 134.50ish though.
Down scenario point to 128.80ish; this may happen only when GBPUSD & USDJPY does a sync drop.
Overall its a drop in first half of the month after a big rally so spikes up/down are expected in all our pairs..