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EUR-USD
Date: 03/12/2013 Time: 18:09 Price: 1.3031
Strategy: Short / Long
Graph 4 hours
Quote previous review:
Again the price has climbed to the upper lip of the parallel descending channel (broken red line), which was blocked at the level of 1.3100 and went back down to the level of support at 1.2967. Another breaking level of 1.3100 will,most likely, continue going north towards the next resistance level untilan outbreak of 1.3166level appears, whichwill certainly lead to the next resistance level of 1.3265, a level which is also a 38.2% Fibonacci correction on the last downtrend (described by the black broken line). However, a level of 1.2967, will initially support the price levelsin the areaof 1.2880 (you can see the daily chart).
Current Review today:
The price couldn’t break into the top lip of the parallel descending channel, when another attempt today ended in a long “cord” down and back again to the middle range position. Another breaking of the level of 1.3100will, most likely, continue going north towards the next resistance level of 1.3166, thatmight lead the next resistance level of 1.3265, a level which is also a 38.2% Fibonacci correction on the last downtrend, described by the black broken line. However, breaking of the price at the level of 1.2967, will initially support the levels around the 1.2880 (you can see the daily chart).
You can see the graph here:
GBP-USD
Date: 13/03/2013 Time: 18:22 Price: 1.4886
Strategy: Short
Graph 4 hours
Quote previous review:
The pair continues its determination to step down,while all rising attempts are being only a technical correction attempts during continues descent before. As long as the falling price structure doesnotchanges, it is most likely that it is on its way towards the bottom lip of adescending parallelchannel (described by the fragmented red lines).
Current Review today:
Again, during the last trading day, the price went lower thanprevious lows were created and nowthe price fails to raise above the moving average of the Bollinger bands. Every move increases a technical correction during the last descent before it, and as long as the falling price structure doesn’t changes, it is most likely,that it’s beingon its way to the bottom lip of the parallel descending channel (described by the fragmented red lines).
You can see the graph here:
