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Wednesday, January 31, 2007

EURSEK Reversal

Good morning all,

The EURSEK produced a daily Doji yesterday so we may bet a bounce up. Unless we break the high of the 11th this month then we are still in a downtrend. In a downtrend the strategy to be used is sell the rallies. The stochastic fast line 14.3.3 is also in the oversold region.
I partially scaled out last night after the potential reversal candlestick.

By the way Siegi, if you are reading this then EURZAR has a 786 and 886 cluster on the daily and a spinning top offering a potential reversal.

Don't forget NFP is due out this week.

Good luck.