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What is happening in the markets this morning?

Serene Education CC Strategy

Serene Education CC Strategy

Morning traders,

Taking a quick look at the markets this morning after a fantastic movement yesterday on these three pairs especially, I am expecting some form of retracement.

What I am looking for is a short position on Cable once price has broken through the 23.6% retracement as it seems to be taking some strain at the moment.  Notice how price broke through the 50 day moving average during the night, came back to test it and bounce doff it again… but will it hold?  Time will tell.  Dont be too quick to jump into trades that are not fully aligned and set up for us to take.

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21/07/2009 - Posted by | Education, Forex Updates, General, Potential Trades | , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

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