Wednesday, February 24, 2010

EUR and GBP update: 2.24.10

EUR lead

GBP - follow?

I would like to say my downtrend prediction was correct over the past few days. However, I apologize for not being more specific on time frames. Considering I was using 60min charts I was referring to downside moves within the week.

The daily chart says should should be a correction to the upside which could take 1 week to happen, though overall the weekly chart shows trend is down.

Key will be looking for higher lows and lower lows. Bollinger Band Analysis has been working decently with these time frames and setups (don't forget i supplement it with far greater analysis and tools; technical and fundamental).


Going forward my idea that the EUR is leading the major pair trend will be confirmed by the end of today or into the next day. Refer to the above charts.



Alexander LĂȘ
Managing Partner
Analyze Capital LLC

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