UJ - 4H pinbar I'm not going to trade...
As a daily summary:
I think GU still need to retrace, I expect another falling day this week [not necessarily tomorrow]
Euro still in bad shape - no doubt there and certainly not a single day can change it.
One of a side effects of UK budget release I think may be clear separation British economical problems from European economical problems. Therefore further plunge of euro may not be followed by fall of Pritish Pound, what so far usually was a case.
Tuesday 22 June 2010
2010-06-22 15:18 GMT +1
I see return up on GU and GJ, and possible rises [but not too exciting] on CADJPY.
Certainly budget reveal in UK strongly influenced GBP performance, therefore I would first wait for some pullback on 30M chart until I would enter a trade.
I expect this pair to rise in log term, I said about at least two day of correction, what I think may be considered as happened.
I think bounce up off weekly pivot 1.4750 would be better than perfect to long [but prefect setup is required first.
If this scenario will work I expect around 75 to 100 pips II target and third part left for at least 1.4950 target.
For this trade I would use GJ and CADJPY as a confirmation.
Certainly budget reveal in UK strongly influenced GBP performance, therefore I would first wait for some pullback on 30M chart until I would enter a trade.
I expect this pair to rise in log term, I said about at least two day of correction, what I think may be considered as happened.
I think bounce up off weekly pivot 1.4750 would be better than perfect to long [but prefect setup is required first.
If this scenario will work I expect around 75 to 100 pips II target and third part left for at least 1.4950 target.
For this trade I would use GJ and CADJPY as a confirmation.
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