Dienstag, 29. Juli 2008

Trade Strategy


EURUSD: The currency pair consolidated on the upper limit of Ichimoku clouds after the 3 corrections. We expect correction to 9- and 26-day moving average at the level at $1,5764/$1,5786. Sure break above the level which can occur today in the second half day, adds necessary bullish impulse to the currency pair.

Strategy: Buy at the level at $1,5750; stop below $1,5625. Add long positions in the case of sure break above $1,5800 and close them at the level of $1,5950-$1,6020.

USDJPY: The Greenback quoted in a narrow range below June highs. The American currency is not overbought and Momentum is on 100. Open interest falls again and is equal to the half of peak of the previous year. Today a trade in a range between Y107,75 and 106,65.

Strategy: Sell at the level of Y107,50, add positions till Y108,00; stop above 108,65. Short-term target is at 107,25, the next one is at 106,65.

BGPUSD: Trade passes in the frame of a potential figure “flag”, till the currency pair is hold above 1,9800. Today attempts to test the level of 2,0000 is possible.

Strategy: Open long positions at the level of $1,9950, add positions till 1,9850; stop below $1,9800. Short-term target at $2,0000, the next one is at $2,1000.

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