There seemed to be a technical issue with my trading platform and I am not able to assess my charts.
Will update my blog as soon as it is up.
Thanks for your patience.
Cheers
I'm back!! E$ got hit by a double whammy last night as both news that there is LHS interest into London fixing and Fed Chairman's unwillingness to be explicit with his intention on QE3 hastened the selling momentum to touch low of 1.2189 before a commendable recovery towards 1.2300 in the later part of the NY session.
Sell stops were pretty much flushed and the latest information revealed only buy stops from 1.2310-30 for now.
Technically, intraday momentum have all turned to range consolidation. Longer term intraday o/b condition has been unwound somewhat. It seemed like market is either comfortable sticking around here with indicators moving towards neutral or there is something big about to happen that we do not know. As I continue to search for clues and signals, I noticed on the daily chart following the bullish engulfing candle-stick that the E$ closed "doji" with the long shadow for 2 consecutive days. Together with other indicators, it seemed like we have a slight skew towards lower E$, following a potential spike higher.
I have to admit that its going to be a low percentage call (55/45) and I'll stay with the sell rally strategy.
1.2330/50 to cap (1.2390/400 news induced) and 1.2180/300 to hold for today with a subsequent break of 1.2162.
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| E$ Daily chart |
All the best!!
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