13 October 2008

Eur/Usd – This is pair is now at 1.35xx. The movement of trends are now slightly changing. But this is a crossroad between a confirmed long trend and a confirmed short trend. Since its in the mid of both, the best option is wait from outside and watch. If i were you, i will give it few more hours till i have a confirmed option of longing. But if this does not break 1.36xx then i think its a good opportunity with another short with stop loss options in check.

puvanSays -> Option 1, wait for a confirmed long since its a monday :) . Option 2, wait till the pair breaks 1.36. If it does not, then a short would be a good option to take. But i dont see any signs of long for the moment.

 Gbp/Yen – This pair is currently following the same footsteps of EU pair. I dont see any signs of a confirmed long at the moment. But the movements are at the crossroads of long and short. So giving it some time to see whats the actual trend would be a better option.

puvanSays -> wait for a clear sign. It could be a short term long, but if you are planning to go in for long, do not forget your stop loss checked in. Still a short at the moment.