Sunday, March 1, 2009

last week's call & this week's too

... last week's forecast wasn't too far short of the mark imo. EUR found resistance at 1.30 and went down to test the target at 1.26. Downside action for cable kicked in around 1.46 but just fell short of the target at 1.41. I was long for usd/jpy and although price failed to fall to my trigger at 92, going long at 95 saw a tidy profit just shy of 98. I was a wee bit out on chf, however no downside break of 1.15 meant no short was opened.

...this week, eur/usd has turned slightly more bearish and I'll be looking for downside action within a range of 1.2850 and 1.25. the spinning top on cable will prompt me to look for opportunities to sell sterling against the dollar around 1.4370. usd/jpy was proudly bullish last week. this could well continue and I may try buying around 97 with a target just shy of 100. However, if the pair hit 100, I will be looking to short. usd/chf is range-bound and I'll be perking up when price action nears the boundaries of the range, that's 1.15 and 1.18.

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