joaquinmonfort Posted October 5, 2012 Report Posted October 5, 2012 Eurodollar will probably resume its rally given the strength of the powerful up-move yesterday which is likely to continue, as well as the wave count which indicates the current rally may be a 5th wave, of the move from the July lows. A decisive break above 1.3050 would provide strong bullish confirmation. The target higher could be the old highs and the monthly pivot at 1.3175. The trend-line at 1.2970 would be expected to provide support to any down-move. manu1713006157 1 Quote
joaquinmonfort Posted October 5, 2012 Author Report Posted October 5, 2012 GBP/USD: technical analysis Cable is trading in a tight consolidation ahead of the release of Non-farm payrolls data. It rose strongly yesterday from support at the monthly pivot and it is possible it will continue higher. A move above 1.6210 might give strong confirmation of a rise higher, perhaps to the 1.6305 highs or the cluster of pivots above that at 1.6350. A break below 1.6150 alternatively might open the way to a possible move down to support at the 1.6095 lows. Quote
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.