Pipcrawler

It’s pretty that price action is telling us that the broken resistance did not turn to support. So, our trade idea did not work out and it’s time to close it down and move on.

Cable fell during the morning European trading session , most notably the UK CBI trade data and mortgage data.

Our trade was triggered, and after a rollercoaster ride through unrealized loss, then profit, and now back to loss, it appears there aren’t enough buyers at the trendline to support our long play.

Our short position was entered quickly after our post and it looks like we caught a break as there was a broad based US Dollar rally throughout the Euro/US overlap.

Euro bulls have been beating on the 1.59 door and it looks like they have broken through on the back of this morning.

Doh! Looks like sellers made an attempt to push Cable lower during the Asian trading session, but buyers came with force as soon as European markets taking Cable above 1.9800.

Here’s a quick little resistance play meant for the Asia/Europe trading session. It appears sellers held ground just under 103.00, so we may see it hold once again on another retest of that level.

Our trade was triggered during the morning European trading session and it looks like traders bought in at that support area. Our first profit target was hit and we

EUR/USD has been in consolidation mode for the last few trading sessions. We just saw a drop in the Greenback against the Euro within the last few hours to break outside of the range. Is the market ready to test 1.59 once again?

Looks like we took one to the chin today as the US Dollar rally forgot to stall around 1.0050 against the Swiss Franc, and actually took us all the way up to our