FX Market Readings

Operators' intentions read by Dr. S. Sivaraman, of i-knowindices.com

Or subscribe via email:

Next webinar

Using Fibonacci ratios to manage your trades efficiently
by Sunil Mangwani
November 23, 10:00 GMT
Register for the webinar

FXstreet.com Weblogs

Links

Slow slide in EURO and GBP

Posted on August 29, 2008 at 18:12 in Market comment by Dr. S. Sivaraman

There are potential tight stops below supports and psychological levels and the big players are carefully hitting rhe stops and keep buy orders above their sell orders to buy all the stops triggered.Traders taking long with tight stop also they are discouraging and hitting stops.Targeting YEN crosses they are making continued contrarian moves of dipping EURO and GBP and also USD/YEN.Today being month end they are putting pressure on the traders.Now new week and new month they may not show these levels as they are buy levels by several estimates.

They are expected to firm up towards close as they did for last 2 days.

Regards

Dr.Sivaraman

One Response to “Slow slide in EURO and GBP”

on 29 Aug 2008 at 7:32 pm1mike

Sorry doc but the charts are saying GBP is going to go into the 1.81 to 1.80 range.

Times like these, people follow the trend. Even the “big boys” have a hard time fighting this.
I do hope from here it does bounce up.( I have long positions)

Trackback URI | Comments RSS

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.