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Friday 10 July 2009
Just after I wrote about one green day before end of a week, Thursday showed nearly 300 pips gains on GU. To be honest I didn't expect that much but in other hand I did not expect this pair to rise higher than 1.64, therefore I see depreciation for the pair for today.
Both UK PPI and US Trade Balance might be good triggers for shorting GU, especially if pair will be at the top of channel at the news time. My trading direction however will be short only if pair won't start to penetrate 1.64 area again, or break it. If that will happen, both direction are possible.
Additionally I would not expect GU to unfold another 300 pips jump, therefore if pair will run that far I will suspend all my predictions till sunday.
Both UK PPI and US Trade Balance might be good triggers for shorting GU, especially if pair will be at the top of channel at the news time. My trading direction however will be short only if pair won't start to penetrate 1.64 area again, or break it. If that will happen, both direction are possible.
Additionally I would not expect GU to unfold another 300 pips jump, therefore if pair will run that far I will suspend all my predictions till sunday.
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