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23.00 GMT June 11, 2008
We have entered short GBP/JPY pair at 210.00 for profit target at 209.00 and SL 211.00.. This is 1:1 profit loss ratio. We will comeback to report the outcome of this trade.
Good luck in your trade
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We are still holding long EURUSD since 1.5480 and we expect it will continue to move north with target at least 1.5900. Todays German IFO should provide good buying opportunity if the news come out lower than expected and continue bullish momentum if IFO better than expected.
Please take note that rising gold and oil will continue to weight on dollar. Moreover, the headline from US such as housing and employment weakness will further strengthen dollar bearishness.
Choppy price action will continue to dominate the market while any downmove should provide better opportunity for trader to add long position for major pair
Good luck in your trade
We monitor closely the development of EURUSD on the last few session and today we saw some good trendline resistant breakout that could kickout bull out of Dollar!. MACD an RSI printing positive reading as well to justify trend line break. Checkout our image below for clear picture of what we are talking about
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