Fresh start of the year 2011

EURUSD: Failed at 1.3448 near
the 38.2% fibo retracement level on the daily chart. A break below
the prior low at 1.3056 would signal that the downtrend would
resume. I expect further sideways price action before a decisive
breakout from the current bracket of 1.3100-1.3400.
EURGBP: Sharp fall testing short-term
support at 0.8448 with scope for further downside if breaks lower.
EURCHF: Corrective upmove after it
failed to extend the downside. Only a higher low would let me trade
the long side.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: