7 Apr 2014; GBPUSD
Is it the end of the down trend? From the daily CCI(14), it has exit the BB(14, 1.2), meaning an end. It now enter a phase of consolidation with a possible of reversal or a further down.
The UK economy performed relative weaker than the US last week. Today with little news to back any movement, I am expecting the GU to move side.
The price range is confined by daily EMA21/EMA55 as the resistance and daily EMA100 as the support. The price is respectively at 1.6600 and 1.652.
From the hour chart, it is around 1.6585 (EMA100) and 1.6560. Take small profits in either direction and enter trade around the resistance and support level.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment