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Market Outlook – January 20, 2012 January 20, 2012

Posted by Musa in : Journal , trackback

EURUSD

Yesterday EU was in break up the upper down trend line in H4. It is successful to make the breakout from the trend line:

In the smaller time frame, we could see that it was in the up trend. But now it is reach the upper up trend line.

For today, beware of the correction in the up trend. It may consolidate back down to the low up trend line in H1. After that, it is possible that the pair is still goes up again continuing the up trend.

GBPUSD

This pair still showed that its price is still going to the upper up trend line:

Also in hourly time line we could see that it is still in the up trend.

The possibilities for today is the price is still goes up to the trend line. But it may consolidate first. If it is in the up trend line, it is may lead the price in the resistance and get ready for the reversal.

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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