It always runs like a mule without a noose around its neck.
I must say I got caught long with it unawares this time. Let us see if this can do to me what EUR/USD could not, wipe my account, that is.
Sorry to hear that Habib - it's a real stop hunters market. Technically longer term to me now looks like could still test lower. 1.2930 looks a key level - through there could test the years lows. Topside now needs to break back through 1.3100 to regain some momentum I reckon.
It piggy-backed the EURO and GBP while making inroads against its southern counterpart, USD, but is now refusing to budge and join the herd, like a stubborn wild mule again. I am struggling to rein it in. Lets see.
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.
Well if every trade I reccommended hit my target level before my stop level I'd be retiring pretty soon Did you manage to get involved on that move? I'm busy doing other stuff until early October now so don't have the time to devote to trading again till then. Which is annoying when I manage to get a couple of trade calls right.
Might be worth trying this one again as it seems to be working OK. That moving average comes in about 1.3037 now I think.
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Did you manage to get involved on that move? I'm busy doing other stuff until early October now so don't have the time to devote to trading again till then. Which is annoying when I manage to get a couple of trade calls right.
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