Monday August 2, 2004 - 03:54:33 GMT
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I-Knowindices - i-knowindices.com
EURO and GBP are expected swing and rise for a week and reverse ......
During week end the traders were induced to off load their long positions in EURO and GBP......now EURO and GBP are expected to swing above the friday close and firm up for a week to trap the lower and middle level short sellers.....the operators are expected to either way swing for the week beginning and then reverse big (rise ) quickly...hence traders are advised to take long positions in them near the low set for the day ...or wait till week end to take the short positions...
EURO entry (long) 1.2033 - 1.2045 exit 1.2278-1.2323
GBP entry (long) 1.8196 - 1.8215 exit 1.8389 - 1.8445
keep initially 40 pips stop below entry and rise to entry once 40 pips profit is seen...you can trail the stop and keep the recommended exit and maximize the profits....
keep in mind the operators create market sentiments and act against to trap the traders.......
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