Posts Tagged ‘consolidation’
Trade Idea: USD/CAD – Hold short entered at 0.9950
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Wednesday, 16 February 2011 14:04
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Although the greenback edged marginally higher to 0.9904, as renewed selling interest emerged there and price has retreated, retaining our bearishness for decline to resume after consolidation and break of recent low at 0.9832 would confirm, extend weakness in wave (iii) for further fall to 0.9800 and eventually towards indicated

 
Trade Idea Update: GBP/USD – Stand aside
Written by admin
Wednesday, 16 February 2011 12:52
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Despite intra-day brief rise to 1.6185, the subsequent sharp fall after faltering below previous resistance at 1.6186 signals the rebound from 1.5963 has ended there and consolidation with downside bias is seen for test of yesterday’s low at 1.6008, break there would add credence to this view and extend weakness

 
Trade Idea Update: EUR/USD – Sell at 1.3545
Written by admin
Wednesday, 16 February 2011 12:47
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Despite intra-day rise to 1.3571, as the single currency has retreated from there on the back of intra-day selloff in cable, suggesting top has possibly been formed and consolidation with downside bias is seen for weakness to yesterday’s low at 1.3460, break would confirm the correction from this week’s low