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Gamma_Jammer · 24-08-2004, 20:21

Well it seems to be holding back above the 100 hour SMA (comes in ard 1.3020 by my reckoning).

I would reccomend being long here if possible (ard 1.3045) with a stop back thru that 1.3020 level. First target 1.3120. After that the 1.3186 fibo level should in theory come into play (although to be honest the market seemed to pay scant attention to the fibo levels on the way down from the May highs). Monday's data was pretty poor in Canada and i reckon funds may just play a bit of cath-up in the other majors over the next few days.

Good luck all

GJ

24-08-2004, 20:21	#4 (permalink)
Gamma_Jammer level 3 Join Date: Mar 2002 Location: U.K. Posts: 414 Rep Power: 0	Well it seems to be holding back above the 100 hour SMA (comes in ard 1.3020 by my reckoning). I would reccomend being long here if possible (ard 1.3045) with a stop back thru that 1.3020 level. First target 1.3120. After that the 1.3186 fibo level should in theory come into play (although to be honest the market seemed to pay scant attention to the fibo levels on the way down from the May highs). Monday's data was pretty poor in Canada and i reckon funds may just play a bit of cath-up in the other majors over the next few days. Good luck all GJ