Sunday, April 29, 2007

A Short-Term Correction is Building Up

On Friday, after the US GDP release, euro spiked to a new record just above 1.3680, but unable to follow through, sliding back almost 80 pips (!!!) before climbing back up again. I'm seeing several technical signals that a short-term correction is building, with momentum readings continuing to stall for days (weeks??). Trendline support to keep the move going higher has become very steep and a break lower will spell disaster..
Trade ideas for next week:
Sell 1.3680-90, 1.3715, buy 1.3600, 1.3580, 1.3540-50

But remember, all these trade ideas will only be valid when confirmed with other indicators/analysis.
Good luck guys...

Euro naik mencecah 1.3680 tapi tidak daya untuk mengekalkan kenaikan apabila berlakunya pengambilan untung. Saya melihat petanda atau signal untuk pembetulan (correction) untuk euro dalam masa terdekat. Trendline yg selama ini menjadi sokongan kepada kenaikan euro telah menjadi semakin curam, jika euro tembus garis curam ini (closed bawah garis support ini), akan berlakulah 'selling spree' atau pembetulan (price falling down).
Jual 1.3680-90, 1.3715, beli 1.3600, 1.3580, 1.3540-50.
Sebelum buka position, sentiasa lihat pada signal dan indikator kamu.

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