22 Feb 2008

GJ Hi 211.35
Lo 210.21

The high was created at the last minute of the 0900/0959 SGT candle.
Yesterday a peak was created at ~212, as such this pair may faced resistance at around that level. The next resistance is at ~213.30 (daily chart EMA55). Therefore it is either enter the market order for long and take profit just below 212 (or 25 below 212) to expect a reverse, or enter above 212 to expect a breakout

Support firmly at ~210.67 (1 hour chart EMA200/ EMA100 and EMA55)

Place long limit order at 212.01, TP, 213.01, SL 211.01
Place short limit order at 210.21, TP 209.21, SL 211.21

GU signal for bull run is here. But expect a breather, after yesterday >200pips run. The first resistance line is at 1.971 (EMA55 from daily chart). Should it clear this, the next will be towards EMA100 at 1.986. CCI(14) and CCI(34) shows no sign of reversal, strongly punching through the BB.

Support can be found at EMA21 (1 hour chart) at 1.959. I am expecting a rebound towards 1.971 after the support rebound. Next level of support is at 1.955 (EMA200 1 hour chart)