Browsing Posts published in February, 2011
After the expected pullback on Monday, Cable found support and broke key resistance at 1.6060 with conviction, completing a move to 1.6290 area for a double top. Healthy retracements, especially on NFP Friday, re-tested the trendline for support. The weekly candle closed bullish, only the last daily candle finished with a new lower high/low. Our [...]
EURUSD took out the 50% Fib level of the bigger down move without much effort and found resistance at the 61.8% area (1.3850). We are in a medium term bearish setup, but with no new lower low on the weekly chart and the apparent buying into the pair on NFP Friday, bears are not in [...]
