Thursday, August 14, 2008

WOW

What can I say. 1221 points range? it's the biggest monthly range since 1992, 1.5 decade, a 15 years?! WOW. This is not usual range, could changing somebody's trading system.
The Greenback surge sterling too deep in the heart in a short time. Recover will be hard from this level. 2.0000?? maybe take months or years.
61% Fibo has been reached-some of Fibo expansion levels has been touched-over the multy month years-but its not easy to see the bull right now. Sideways are my bias.
There are some target area still remains arround 1.8480 but some tools indicate oversold, just becareful to take some short.
Thats all folks.


Happy Trending,

Forex Knight

No Bias

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