TRADING FOREX MARKET
The fact is that pattern exist is evidence of price manipulation, which in turn creates predictability that produces profitability for those who can see the patterns.
Greggory L. Morris
Tuesday, April 20, 2010
EUR/NOK (-172 pip value 0.14, actual -29)
with the recent retreat of oil from 87.09 highs pair stalled it's continued advance. Euro is still on hold for the "solution for Greece" despite some of the excellent data coming out of the German powerhouse (German ZEW Econ. Sentiment 53.0 vs. expected 45.2)
Aside from that Slow Stochastic and RSI (not displayed because of clarity of graph)are indicating on the divergence on the price. Stops should start bellow it's recent low's of 7.9313, and targets should start at 7.9950 and higher if Euro gains momentum and oil remains under pressure.
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