Well the Sterling did bull today after yesterday news, had a nice retracement to 1.5714 or 1.5717 depending on where you get your price quotes from (review yesterday blog), it peak a lot earlier than I thought 10:30A.M. est. After that it was a Greenback day. Hitting 1.5579 by 3:00 P.M. est.
The Euro hit a high of 1.3678 by 6 A.M. est., I track a bull of 1.3775 for today, but the Geo-Political meetings and news is too dovish...so it didn't even reach 1.3700.
Ok, going into Friday, Geo-Political meetings has alot of the money on the side-lines or short.. Oh, yesterday I said I had 1 lot of Euro at 1.3615, I took 43 pips profit at 4:30 A.M. est. Now I'm have 1 Sterling at 1.5690 I could have take profit this morning around 10:30 A.M. est., for about 10 or 15 pips, but I didn't & I had to leave so I put a take profit point of 1.5715 with my software and what happen? Sterling hit, 1.5714.2, I miss my profit goal by .8 of a pip, I wasn't near my software, now I'm staying on the side-lines this last day of the week, even though Canada has HIGH volume news coming out at Friday at 8:30 A.M est.
As I'm writing right now, Sterling is at, 1.5590 it looks technically bearish,(I'm still holding my lot) if Sterling breaks up through 1.5622 it should finish Friday at 1.5729-1.5792. The Euro, is at 1.3530 very bearish if the Euro breaks through 1.3597 it should also finish friday bullish at 1.3700-1.3753.
China has some news coming out this weekend after market hours, it may also be effecting volume. All the extra dovish media isn't good for the Dow either... Raise rates between the banks, raise interest rates! Hawk!!
Thank you for your time and have a great weekend..
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