Tuesday 16 June 2009

QUICKIE SNAPSHOT: TO LONG OR SHORT? THAT IS THE QUESTION.


Now that Monday is out the way and we have part of Tuesdays PA, here’s a daily snap shot view on Geppy and EUR/USD:


EUR: This is in a clear downtrend, made lower lows and lower highs in last 9/10 days. We looked to be in a bit on a no mans land but the picture is a lot clearer. I’m looking to short of rallys close to previous highs @ 1.4100, last high will be SL.

Geppy: As far as the daily is concerned, we remain in an uptrend but stochs look like turning over so it’s still a neutral bias as far as the week is concerned…the close today should shed more light. A close below 157.20 will keep the bearish pressure that is evident on the smaller TF’s..i.e 4HR. If stochs don’t turn-over after todays close and go sideways or turn up then I will be looking to buy and exit at 154.00


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