Wednesday May 19, 2004 - 04:36:41 GMT
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I-Knowindices - i-knowindices.com
EURO AND GBP ARE EXPECTED TO FIRM UP FOR A WEEK BEFORE THE NEXT TREND REVERSAL
the forex market is now under the grip of frequent trend reversals....in this process after the USD days it is going to be favorable for EURO and GBP to firm up for a week before the next trend reversal.How ever USD/YEN,USD/CAD will swing and rise more and USD/AUD is expected to swing and drop more.
Thsi week you can do buy and sell trades in EURO and GBP - buy near the day's low and sell during quick rise.....in USD/YEN wait for the quick drop and take long position with trailing stop and grab the profit.....in USD/CAD wait for the full drop to 1.3650 area and then take long position for a position trade to close above 1.4045.....
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