23 Apr 2009

Yesterday comments:
GU did a unexpected up all the way to 1.466, before down 200 pips within 1 hour from 2000hrs SGT, when UK finance minster was giving his speech at 1930hrs.

Fundamental:
After the last minute DOW sell off and coupled with the bads UK sentiments after Darling speech, I expect the FTSE to loose ground.

There will be a list of news for Europe from 1500hrs to 1700hrs, followed by US Exisiting home sales at 2200hrs.

Technicals:
Trend: No clear indication as looking at the daily chart WMA5 hovers between EMA200 and EMA55. If it goes through, support will be at 1.43. But if it rebound, resistance will be at 1.465.

CCI also show no direction. It has the potential to go down further or it may reverse.