Daily Technical Analysis On EURO & GBP & ENTRYS (16/10/2004

[JACK]

Hi Guys!

My short position from 14/10/2004 @ 1.2408 was closed with the loss of 57 pips and as I mention I reversed my position and I am long with the target 1.2600. ( see my post from 14/10/04)
Market for the past few months is moving in the range and we need clear break . Key resistance for Euro has been broken and hopefully Euro will continue moving up.
I am holding my long position over the weekend and looking forward to the new week ....always lots of money to be made.
Please see my support for Euro & Gbp

Euro:

Support:

1.2350
1.2320
1.2260

Resistance:
1.2430
1.2480
1.2550


Gbp:

Support:
1.7960
1.7900
1.7800

Resistance:

1.8020
1.8080
1.8165

Gbp Fib resistance comes at 1.8075. Break of this level will push Gbp more up.

Have a great weekend and I will see you with my analysis next week.
Regards

Jack