This blog is created to show market analysis based on our Power Trend Strategy. The strategy was designed with intra-day traders and part-time traders in mind. I will do all it takes to make it simple and explicit as possible. PLEASE REVIEW THE FIRST POST (Risk Warning)! Please enjoy. TRADE ALERT HERE: http://bondfx-tradealert.blogspot.com
Wednesday, February 17, 2010
EURUSD RALLIED TO A ROCK - DECISION POINT
Yesterday was a major retracement on the EURUSD downtrend and was able to hit a major 4hr resistant at 1.37821 at this point one should expect a dash down again to continue the trend - but EUR is obviously Over sold in the major trends and may be working towards a reversal. So to pick a short i expect the trendline of my 15min timeframe to be defeated with a journey down to the 20sma of 4hr tf. Alternatively, a break of 1.37821 may see an uptrend confirmed.
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