Posted by: joetradingplace | May 1, 2012

Daily Analysis (Forex) 01/05

Eurusd

If the minor S holds, we expect a one big thrust move on this pair to around 3330s, and then a decline from those levels.

Usdchf

If the minor R holds, we expect a big thrust move down to around 9020s, and then a rally from there.

Eurjpy/Gbpjpy

As long as bears continue to form bases of resistance as the market moves lower, we will still maintain a bearish sentiment. We are still short these two pairs, taken partial profits on 1 position, 2 position left with SL to BE

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