Sunday May 23, 2004 - 13:41:23 GMT
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I-Knowindices - i-knowindices.com
EURO and GBP are expected to rise more for 2 days in the week beginning....
EURO and GBP firmed up for last week end and a good amount of short covering followed by long liquidation at higher levels happened as per the forecast
Now the sudden rise and spike during week beginning will induce the traders to take long position and not willing to book profit when seen due to greed.
Later when all turn long in other majors,the correction will happen to create market fear and distress off loading from mid week......
other majors are again going to have a range bound swing for another week and then rise very smart during the month of June.
So aim to do swing trades using trailing stops.This week we will witness either way trading opportunities....so do not have bullish or bearish feel in any pair and you can do buy and sell trades in other majors for 2 days and then do sell and buy trades for the rest of the week...always try to buy near the low set for the day and sell near the high.
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