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Friday 2 October 2009

Today news was not exactly what I expected. There was spike on GU and EU against data released, however it took quite a long time in terms of news trading to retreace to pre-release levels.
There was anyway nice trade on UJ, it was 50% retrace between news spike and pre-news level [around 89.16] from there price went around 50 pips down.

My general bias was for long UJ and short GU and EU, but news was rather against that, but that was the reason why I did not expected much of a plunge on UJ.

A big surprise was massive 120 pips rally in UJ 1,5h after the news, what I can't explain however treat it as a confirmation of trend reversal on this pair. [and possibly confirmation of short term decrease on EU]

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