Looking at the charts we could be in for a big day with all major pairing sitting at important short term moving averages. As I write Cable has just fired a short trade on the 30 minute chart, breaking and closing under the 300 Linear Weighted Moving Average LWMA with indicators turning lower , 1.5964 is first target.
Aussie has a similar pattern using the 200ema 30 minute chart..
Moving averages to watch on the hourly charts are -
eur 220 sma, yen 220 ema, audjpy 200 lwma, eurjpy 300 lwma, gbpjpy 100/90 ema´s , usdcad 300 ema, kiwi 300 ema.
I will post some charts in a short while.
Open trades -
Short Eur/Aud average 1.5820 , Stoploss 1.5800. Looking to exit this trade when indicators reverse.
Long Usd/Cad 1.0555, Stop 1.0540 , Target open
Wednesday, 3 February 2010
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