Thursday 12 May 2011

THE DAY THAT WAS

EUR/USD
Price gave us a bullish candlestick in UK session, but this failed and we lost 50 pips, a few hours later and we took out the A high doing a small reversal pattern. We will look to buy dips from tomorrow, as this might be a sign that we in for a deeper correction towards 4500.

GBP/USD
Sterling never gave us an entry signal, price just fell and gave us a new B low. we will also look to buy dips here, maybe even a BF786 in tomorrow's session, looking for price to head towards the 6550 area over the coming days. Buy dips to that price level.

AUD/USD
Gave us a nice BF86 today, this is a leading signal that price is heading towards 1.0900 over coming days, buy dips to that level. Entry was at 1.0602 and profit targets at 1.0900.

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