Wednesday, December 20, 2006

Forex strategy

Hello Traders,


Usd was strong sell-off yesterdy, even after better US numbers ...

EUR-USD - backed above 1,32, noe testing another minor resistance near 1,3240, roumors about stop-buy orders above this level, which quickly can push pair twds 1,3280-3300, also indicators are positive, no consolidation-correction during asia session suggest another round selling usd possible during european or us session, propably bulls want to take their christmas gift and we could see 1,3460 and 1,3660 very quickly.
Strategy buing some...add on dip at 1,3180 sl just below tp 1,3295 for half and open for rest

GBP-USD - bulls fighting with 1,9730 resistance. Clear break will open the way twds 1,9845. On this pair also some traders want to take great bonus ahead of the end of the year. Support at 1,9650-75 should holds...
NOTE: If You want to predict some target on this pair please add 2% even 2,5% to november close and what You recive ? Yes this is possible target - above 2,00-01 ( why 2%-2,5% ? - average gain GBP vs USD on December ).
Strategy: the same

USD-JPY - supported from EUR-JPY but some negative signs You can see below on 4h chart.
Strong resistance at 118,35, only clear break this level could hold bulls hope for move twds 118,75-119,00. Rumors - some stop buy orders above 118,40. Support 117,65-80 then 117,20.


Strategy: watch another probe for move above resistance, if 118,35-40 will holds , take short with tight sl just above this level.

Good Luck
Piotr

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