|
Hi!!
Weekly Review.
It has been an interesting week. EURUSD; USDCHF and GBPUSD did not move much. And cable managed to close on Friday between its line in the sand short term: 1,9590 - 1,9580.
USDCHF made a high at 1,2562. It could not break its almost one year old trend line at 1,2575 on Friday. Interesting chart that one. 1,2582 is 50% Fibo from 1,3289 (16-11-05) to 1,1905 (05-12-06). So, as you can imagine, it needs to close daily above 1,2582-90 in order to keep going up. And then it will find its big tren line at 1,3091 (on Friday). But before, it should break its 61,8 Fibo at 1,2746 and the high of 1,2768 (13-10-2006).
As you know, if USDCHF does all this, EURUSD will go down hard.
This week (28/01 to 02/02) is plenty of very important and shaking data. It could decide where we are heading short and medium term. We'll see.
__________________
Nina
We must fight on the winning side, not on the side we may believe to be correct.
Focus, Patience and Discipline
Last edited by nina; 01-28-2007 at 05:33 PM.
|