Monday 20 June 2011

EURGBP

This looks like a strong market and i suspect we will see the Euro strengthen against Sterling this week. Long term i am also bullish. The most recent reaction line is from the pink/magenta fork. The two grey down sloping forks form pivots A & B both indicated price is well supported and a price failure form the most important A pivot is a CL failure. Th2 60 min chart shows the WL from the reaction grid which is anchored on the controlling swing (Nov-Dec 2010)

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