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Thursday 28 May 2009

UJ appreciated over 100 pips last night after I posted my long sentiment on this pair. EU raised around 60 pips at the same time, however now it retraces and I'm demo-shorting it from 1.3874.

For US news I see opportunity to short EU even further, however I'm not sure what impact exactly may be. But there is much more room below it's current price than above.
UJ have some chance for small retracement, but general trend is still up.



It seems there is some local reversals approaching for next couple of days which should drive EURUSD down and USDJPY up. There might be some stagnation visible on GBPUSD pair with small sentiment down, so I'll leave this pair for a while.

This general idea of retracements came to me from observation of 30 min chart. Firstly move on GU and EU was not as firm as it used to be last week [more up-down action during a day] that show some confusion in decision making what should happen now. Another thing is decline of EU as a reaction to the today neutral US Existing Home Sales [only 0.03M deviation].

Al I ca say now is that my attention moved from GU to EU and UJ.

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