My Forex Blog

Hi, my name is Karin and I have been investing in HYIP and autosurfs for 4 years. Seen my share of scams and folded programs, that is for sure. So for the past two years I have been learning to trade forex, and this year I have finally become successful. I hope you can learn too. That way, you dont have to hand your money over to some "admin" and hope that you get it back with some profit.

[Most Recent Quotes from www.kitco.com]

Monday, December 12, 2005

This is the kind of analysis that I dont get

EUR/GBP – Euro remains confined to a narrow .6705-.6876 trading range that dominated the price action since the beginning of September, with the latest move to the downside stalling around .6727, a level established by the 23.6 Fib of the .7106-.6609 GBP rally. A break to the downside will most likely see the pound traders sweep clean the euro stops below thus seeing the downside momentum accelerate with the cross heading toward .6705, a level established by the November 10 daily low. A further move to the downside will most likely see the cross head lower and with sustained momentum taking on the single currency bids around .6663, a level marked by the June 27 daily high. Indicators are favoring pound longs with both momentum indicator and negative MACD treading below the zero line, while neutral oversold Stochastic gives the euro longs a chance to retaliate.


Huh? Technical analysis definitely DOES NOT work for me!!!

posted by Karin @ 2:59 PM