Cable is in down fall, and this morning almost reached the 100% retracement in 60m chart after 7 days making news lows.

The move anyway was quite tricky this morning because it started before the Frankfurt opening so only the early risers won the price today.

See the charts for more detail:

Today we got again a very clear pattern that happens when there is not a clear direction on the pair.

GBP/USD formed a 123 pattern at Asian support and it went all the way up till the Asian resistance.

We got 2 or 3 opportunities to go long and take a piece of the move (around 80 pips)

See the charts for more detail:

“By failing to prepare, you are preparing to fail.”

Benjamin Franklin

After yesterday’s storm, the european opening has been more moderate in volatility but with a medium size run on a clear pattern.

In Cable the price made a 123 pattern, followed by a Support trendline broken. After that we had some opportunities to go short till yesterday’s main support in 60m.

Let’s see the charts for more information:

Today the Eur has broken the Asian Session resistance, yesterday’s high and one week’s high and one month’s high!!

This is is a real Breakout. 130 pips in just 3 hours. Eur doesn’t move this far these days, so something important is cocking.

The breakout move at the European window (Frankfurt _ London) was very easy (textbook) and afterwards the move gave us multiple entry opportunities

See the charts for more detail:

Today we had an incredible start of the day, EUR and GBP breaking all the resistance levels because of the dollar weakness. Yesterday was Bank Holiday in USA, so the market was waiting to push higher on a liquidity environment. Friday’s labor report didn’t convince finally the operators, so the dollar has been punished all across the board.

This move reserves 2 posts, one for the GBP/USD and other one for EUR/USD:

http://blogs.fxstreet.com/tradingliving/2009/09/08/pound-breaking-all-the-resistance-levels/

http://blogs.fxstreet.com/tradingliving/2009/09/08/eur-pushing-higher/