Posts Tagged ‘downside’
GBPUSD – Vulnerable, Consolidates
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Thursday, 17 February 2011 10:49
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GBPUSD The pair is vunerable to the downside as long as it holds within its symmetrical triangle (clearly seen on the weekly chart) and below the 1.6272 level. A firm break and hold above the latter is required to open further upside risk towards its Nov’2010 high at 1.6298.

 
Trade Idea Update: USD/CHF – Hold short entered at 0.9700
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Wednesday, 16 February 2011 12:56
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Although the greenback staged a sharp rebound from 0.9617 in European session, as long as the Ichimoku cloud bottom (now at 0.9708) holds, consolidation with mild downside bias remains for another decline. A break of said intra-day support at 0.9617 would extend the fall from 0.9776 top for a stronger

 
Trade Idea Update: GBP/USD – Stand aside
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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