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Forex Technical Review 4/09/08

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tsafi   Wednesday, 04/09/08 06:50:50 AM
Re: None
Post # of 268 
Forex Technical Review 4/09/08

look like a consolidating at 1.5710 and appears to be accumulating momentum ahead of the next break. 60 min` chart is showing moderate bullish momentum, and the daily chart is showing that there is still more room to run, probably towards the 1.5800 zone.
The cable is in the middle of a very sharp bearish trend after the breach through the 1.9800 level. The slow stochastic is showing a negative slope on the daily chart, and it appears that the bearish trend will continue. Going short for today.
No significant breach has been made in either direction, yet there is a bearish hint in the form of a cross on the 4 hour Slow Stochastic. The Bollinger Bands are tightening which indicates that the break is near. Going short with tight stops for today.
There is a very distinct flag forming on the daily chart as the pair now floats at the tip of the flag. The slow stochastic is showing a bearish cross which might result in a breach through the bottom section of the flag. still no game for me on this one .

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