Disclaimer: Information contained herein is the opinion of the author and should not be used for personal trading strategies. Forex Trading is extremely challenging and often results in substantial losses. Good luck to all with their ventures into FX Trading!
Friday, January 9, 2009
EURGBP
EUR/GBP has made a great run to the bullish side over the last few weeks. However, we recently experienced a drastic pull back. Taking a close look at the pairs mid term support level we see a Doji formed at the level of support on the 8hr chart, which is a sign that a potential reversal will occur next week. In addition the chart seemed to find itself forming a the Doji on support and a 61.8% retracement, which is another great sign of a potential reversal next week.
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