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
Monday, November 15, 2010
EUR/CAD (+162)
euro is expected to make moves lower as the worries about stability in europe continue to make headlines. Uncertainty about Ireland need/not need help, will drag the Euro lower, and CAD is expected to continue with progress. Without major news for this week, accept for Tuesday German ZEW Econ. sentiment, headlines, and equity moves will continue to affect the pair on the downside. On technical side 100sma is crossing over 200 sma what is bearish signal, and RSI is marking lower highs. Stop is placed at 1.3915, and target is placed at 1.3680 and lower.
Wednesday, November 10, 2010
USD/JPY (-48)
moves in USD are still dictating the trades as we approach the G 20 meeting, and risk appetite was on a decline on the back of declining prices of oil, and weaker gold. Pair was showing stabilization bellow 82.00 level what is telling us that the market participants are not ready to start taking profits because they expect further decline in USD and more JPY gains. For the ones that believe this it is an excellent opportunity to start a new short with stops at 82.20, and target at 80.70, and then 79.80.
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11:00 GMT,
Nov 10,
stopped out on sharp move higher
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