Friday, March 12, 2010


Some notes looking to short and medium term.

Bullish view

Above 1.4781 weekly close expect coming months test 1.5580 possible extension to 1.58.

Below 1.5273 can have continuation sideways/choppy sessions with some spikes. Stay alert 1.5273 breakout can push fast this cross.

Bearish view

Below 1.5273 weekly close expect coming weeks new lows around 1.45 area

Last EMA cross bearish - Possible reversal if trade some weeks above .158 area.

Long term view

Below 1.58 big risk collapse this cross and have new lows (< 1.34) this year.

Remember fibo 61.8 correction from (1.70-1,34) good suport area, was the low of this year until now, and remember made projection breakout range 1.68,1.58=1000 pips around 1.48 area.

First 3 months I have 1400 pips close the year 1.6145.Oversold conditions last weeks, risk more higher short side for now.

Looking to major indexes ( ftse, cac, dax, spx, ndx, gold) I have to follow for now bullish view.

Good luck!!!