Tuesday, July 27, 2010


Let's go to analysis now on today's market price as I posted on previous posts that I now only trade on two pairs, which are Poundsterling Dollar and Euro Dollar.

Poundsterling Dollar:
Previous weeks shows a strong uptrend (or bullish) movement to the North side of the chart, a strong support came from around 1.4400 (June) and it went up, up, up until now. We now have price at 1.5500 and is stalling, which could be a signal for it to go short from now, however, there isn't any confirmation on the move yet.

Euro Dollar:

Last week's previous high was around 1.3000 and currently price is trying to pierce through 1.3000 which gives me no interest on this pair either.

So by looking at price movement right now, the best thing I can do is to stay on the sideline ;)

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