Recent Recommended Trades by AceTrader

Update Time: 28 Feb 2011 08:00GMT

Although cable’s strg rebound fm 1.6072 (Asia) n
subsequent brief break of 1.6030 (AUS) res suggests
last week’s decline has made a temp. low at 1.6030
in NY, present retreat suggests top is possibly for
med at 1.6152 n yield retracement to 1.6090/00.


Turn cautious seller on recovery n only abv 1.61
61 wud risk stronger correction to 1.6180/90.

   Rate:             +1.6095+
   Strategy:       +Target met+
   Position:        Short at 1.6130
   Objective:     1.6095
   Resistance:   1.6161/1.6181/1.6215
   Support:       1.6072/1.6059/1.6030
Update Time: 28 Feb 2011 05:53GMT

Despite falling initially in tandem with eur/usd
at Asian opening, subsequent rebound fm 1.6072 sug-
gests further choppy trading abv Fri’s 1.6030 low
wud continue with upside bias but abv 1.6130 (AUS)
needed to extend aforesaid recovery to 1.6155/60.

Hold long for 1.6120 n only below said Asian low
may risk marginal weakness to 1.6050/55.

   Rate:             +1.6120+
   Strategy:        +Target met+
   Position:         Long at 1.6087
   Objective:     1.6120
   Resistance:   1.6130/1.6161/1.6215
   Support:       1.6072/1.6059/1.6030
Update Time: 25 Feb 2011 09:36GMT

Lack of follow through selling below 1.6122 n
current recovery fm 1.6114 suggest nr term choppy
sideways trading wud continue n another bounce can
not be ruled out but as long as Asian high of 1.61
61 holds, consolidation with downside bias remains.

Wud be prudent to exit short n sell on further
pullback. Below 1.6114 wud bring re-test of 1.6085.

   Rate:             +1.6105+
   Strategy:        +Target met+
   Position:        +Short at 1.6145+
   Objective:     +1.6105+
   Resistance:   1.6161/1.6180/1.6215
   Support:       1.6085/1.6075/1.6040