Thursday September 30, 2004 - 03:22:15 GMT
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I-Knowindices - i-knowindices.com
EURO and GBP are in correction mode- watch and trade- no sentimental attachment to any pair - they are tradable.....
other majors are expected to make swings and correct........wait for the moves.........
MORE SLIDE WILL HAPPEN TILL WEEK END
Hence sell during stop hunt quick rise near the high set for the day in other majors and aim to book profit during quick drop as swing trade .........
Currency sell buy Stop/Adv. hedge
EURO/USD 1.2328- 1.2342 1.2123 - 1.2076 1.2378
GBP/USD 1.8045- 1.8087 1.7774 - 1.7702 1.8138
prolonged higher level consolidation will lead to slide and correction for a prolonged time - watch and understand....GBP has shown the intentions of the operators - other pairs will follow.
USD/YEN will rise more and change the market sentiment......
operators create sentiments and act against to trap the traders......they use the news as triggers against the traders expectations.............
when operators hold and take short positions for a long time.....their intention is to buy later from distress lower level sellers, as they only do profit making trades.....
hence no sentimental attachments to any currency.......
Understanding the operators intention alone can make us to win in this game of forex trading....... the forecast gives the signals much in advance for you to understand the operators intention....
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