Monday, January 29, 2007

Forex strategy

Hello Traders,

Important today:
GBP - CBI
CAD - Manufacturing conditions

EUR-USD - Eur fighting near 1,2900 level, in my opinion 1,2860 support we should see today. No change in view at this moment, remember on Wed US rate decision. Market expect hawkisch tone, we will see soon :)

Sttrategy: Holding rest short, some bounce possible but 1,2945-50 resistance should holds, so sl for our rest short move down to 1,2960 TP 1,2740-80

GBP-USD - no clear situation in this moment, but ahead US rate decision bigger move down possible, but need to break 1,9540-60, if this level hold rally twds 1,9660 possible.

Strategy: watch support if hold buy for fast 30-50 pips or sell on rally to 1,9660-75

USD-JPY - As I wrote on friday, i bought usd-jpy at 121,45...

Strategy: First target met :) for rest sl on b/e but I changed Tp, bigger at this moment 122,80

NZD-USD - hmmm, bulls still fighting, main support holds and better still wait for double top confirmation, daytraders can try short here 0,6950-55 sl above rsistance, resistance near 0,6980-85...

USD-CAD - good support here 1,1795, while holds strong move up twds 1,1870 and higher possible...

Strategy: Long 1,1798 sl 1,1740 Tp 1,1868

Good Luck

Piotr

More details, write: piotr.wilczynski@finexo.de

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