28 Aug 2009

Dear Graduates

There are 2 important news that will be released today which will affect GBP and CHF.

4:30 PM GBP
5:30 PM CHF

A review of the market shows top side rejection and bottom rejection for the 4 major pairs. Short term mode is out. Scalping and the most Intra day mode are to be used while trading.

There could be potential for CHF today for buyers. Strong support at around 1.056 on the daily chart.

EURUSD small upclose today

Hi All,

expecting EURUSD to be a choppy day as buyers try to create a higher high area despite their weakening strength. EURUSD could stretch out to be a sideways market for a good part of the day as both sides rejection restrict EURUSD between 1.4350 and 1.4320.


Buyers rejection could come in to test the multiple support levels during the day and potentially close as a small downclose day if they succeed in taking control of the market today.


Trade carefully and when in doubt, stay out.



Regards,
Siwei