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January 19, 2012 – Market Outlook January 19, 2012

Posted by Musa in : Journal , trackback

EURUSD

Showed in the H4 time frame, EU now is still in the down trend. But yesterday bullish was break the up trend line. If it has enough power, it will break more the trend line and goes up. Or it is possible that it cannot goes far further and buncoing back down.

If we take a look at H1:

It is touch the H4 trend line and in the area of last resistance.

So, for EU today still wait and see. If it break the previous high, it is possible that the price will move forward. But if it fail, it will bounce down.

GBPUSD

It showed that the main trend is in the down trend. But it still on the move to the up trend line. It may consolidate and back down first, then goes up to the trend line.

It showed that the price was break the previous double high. It may continue to move up until goes to the up trend line. For GU, it is better to wait and see on the smaller time frame just in case if there are any signal pattern to enter.

Warning: Do not use this material as the signal, but use as the general reference movement of the price. If you want to know the entry signal, I’ll post in my journal of Naked Trading, not here.

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