Friday 19 February 2010

EurGbp Friday 19 Feb 2010


Price here is interacting around at least 3 ML sets. The long term centre line can just be seen in grey descending from the top LHS to the RHS. Then we have two other shorter term ML sets in play both with one touch each ( red & turquoise). Price has reached the centre line of both red and turquoise ML sets. Price is currently on the UMLP of the turquoise ML set and both stochastics on 1 and 4 hrs show price as due to fall. Plus we also can see an inverted head & shoulders pattern that has played out. This is too risky a trade for me but i will watch and see how price behaves on this UMLP and may come back to EurGbp today or next week.

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