IT BEEN APPROX. TWO MONTHS SINCE STERLING FAILED AGAIN TO FIND SUPPORT ABOVE THE M.A. 200 ON THE W1. TIME FRAME AGAIN, IN FACT WE HAVEN'T HAD SUPPORT ABOVE THIS M.A. SINCE BUSH WAS PRESIDENT.
SO THE LAST TWO MONTHS YES, STERLING HAS BEEN BEARISH. BASICALLY I'M WRITING THIS BLOG DUE TO THE BULLISH RETRACEMENT THE LAST WEEK DATING BACK TO, 11/16/2012 (1.5834 LOW) STERLING HAS GAIN, 134 PIPS AND ACTUALLY HAD A 100+ PIP DAY ON FRIDAY, 11/23/2012 WHICH IS RARE, BUT DUE TO POSITIVE NEWS OUT OF THE EURO ZONE.
STERLING CLOSED ABOVE, 1.6000 AT 1.6032 GOING IN NEXT WEEK SEEKING SUPPORT FOR, 1.6000 WHICH IS A MAJOR SUPPORT LEVEL FOR BULLISH VOLUME TO RETURN. NOTHING HAS CHANGED TECHNICALLY FOR STERLING, IT MUST FOUND SUPPORT ABOVE, 1.6175 ON THE W1. TIME FRAME, FOR YEARS IT JUST BEARS ONCE IT REACHES THE 200 M.A. ON THE W1. TIME FRAME, I WOULD SAY THERE'S A DIFFERENCE ON THIS BEARISH RETRACEMENT! IT HAS STOP AND RETRACE BULLISHLY OFF THE 60 M.A. ON THE W1. TIME FRAME. NORMALLY THE GREENBACK JUST PUNISHES RIGHT THROUGH THE 60 M.A. AND CONTINUES TO BEAR, THIS TIME STERLING IS RECOVERING FASTER AND TECHNICALLY MUCH BETTER!
THE EURO ZONE FUNDAMENTALS SEEM TO BE IMPROVING THIS MAY HELP, STERLING MOMENTUM BUT WHAT IS NEEDED IS BASICALLY FOR B.O.E. TO RAISE INTEREST RATES OR AT LEAST RAISE THE BANK RATES! NOTHING HAS BEEN DONE FOR A WHILE, A CHANGE IN POLICY WITH ONE OF THE TWO RATES WILL HELP STERLING GREATLY.
WITH THE EURO ZONE BEING LEAD BY THE "NON-CONSERVATIVES" AND THE UNITED STATES BEING LEAD BY, THE "NON-CONSERVATIVES" IT WILL BE VERY INTERESTING TO SEE WHAT THE MAJOR LIQUIDITY PROVIDERS FOR OUR WORLD ECONOMY DO, HISTORICALLY WITH CURRENT POLITICAL LEADERSHIP THEY WILL NOT COME IN!! THE ECONOMY WILL OR WE WILL START THE "DOUBLE DIP" SOON.. HONESTY IT ISN'T SHOWING ANY SIGHTS YET, AS OF THIS BLOG THE DOW IS AT 13,000 SHOCKLEY AND STERLING IS ABOVE 1.6000 WITH A BULLISH DAY ON A "FRIDAY!" SO WILL THE LIQUIDITY PROVIDERS COME IN DI SPITE WHO RUNNING THE WESTERN WORLD POLITICALLY OR WILL THEY RUN TOO ONE OF THE POPULAR EMERGING MARKETS! OR WILL THEY JUST SIT AND WAIT ON THE SIDE-LINES OR WORSE, SHORT THE MARKET AND CRUSH THE MASSES. EMERGING MARKETS ARE THE BEST INVESTMENT!, WHICH WILL STILL DROP THE DOW, OR JUST MAYBE SOMETHING DIFFERENT AND NEW! MAY HAPPEN MAYBE THE PRIVATE SECTOR AND MAJOR LIQUIDITY PROVIDERS WILL OVER-LOOK WHO'S IN POLITICAL CONTROL, WHO'S RAISING TAXES! AND JUST DO WHAT'S BEST ECONOMICALLY AND RAISE THE ECONOMY!! I DON'T THINK SO.....
WHAT ABOUT THE FOREX MARKET, WELL I HAVEN'T BEEN ABLE TO DO ANY POSITIVE SUPER ACTIVE TRADING TECHNICALLY SINCE MAY OF THIS YEAR, EVEN THOUGH THE MONTH OF AUGUST WAST BULLISH. BASICALLY HOLDING ON TWO A POSITION TRADE FOR NOW, THE VOLUME IS BELOW AVERAGE, SLOW, CHANNELING AND THE GEO-POLITICAL EVENTS THIS YEAR ARE POINTING TOWARDS A DOUBLE-DIP EVENT THOUGH NOTHING BY THE NUMBERS SAY THIS, BUT IT'S STILL VERY EARLIER LETS SEE WERE WE ARE THE END OF THE SUMMER OF 2013. AS FOR STRONG TRADING VOLUME OF A BULLISH NATURE OR TRENDS ESPECIALLY IF THE MARKETS BEGINS TO FALL IN FOREX THE SAVE-HAVEN CURRENCY IS THE GREENBACK, YOU CAN REVIEW PREVIOUS BLOGS OF MINE THAT COVER THIS SITUATION TECHNICALLY. IF YOU CHOOSE NOT TO GO THE SAVE-HAVEN ROUTE, KEEP A EYE ON THE STERLING AND THE AUSSIE FOR STRONG COUNTER-TREND BULLISH TRADES & TRENDS DURING THE DOUBLE-DIP. A SAFE WAY TO ALSO TRADE IS JUST TO FOLLOW THE FUNDAMENTAL RESULTS OF THE PAIRS AND JUMP IN AND OUT OF THE VOLUME BASE ON THE RESULTS OF THE EVENT.
WEEKLY TECHNICALS FOR STERLING FOR THE WEEK ENDING 11/30/2012
BULLISH SUPPORT FOR STERLING FOR THIS WEEK IS, 1.5940 (CLOSED AT 1.6032) THE NEXT LEVEL OF RESISTANCE TO BREAK IS, 1.6004 A BULLISH STERLING CONTINUES AND BREAKS 1.6045 AND A STRONG STERLING BULL REACHES, 1.6106 AND HIGHER THIS WEEK..
IF STERLING RETRACES BEARISH OFF OF 1.5940 THE NEXT LEVEL TO LOOK FOR SUPPORT IS, 1.5876 IF STERLING CONTINUES TO BEAR THE NEXT LEVEL WILL BE 1.5835 AND FINALLY IF STERLING CONTINUES TO FALL IT MAY HIT A LEVEL OF 1.5774 BEFORE BULLISH VOLUME RETURNS THIS WEEK.
DAILY TECHNICALS FOR STERLING FOR MONDAY'S SESSION 11/26/2012
BULLISH SUPPORT FOR STERLING IS AT, 1.5970 (STERLING CLOSED AT 1.6032) THE NEXT LEVEL FOR STERLING TO REACH IS, 1.6017 A BULLISH STERLING CONTINUES THIS SESSION TO 1.6047 AND A STRONG BULL REACHES AND BREAKS 1.6092 FOR TODAYS SESSION, 11/26/2012.
IF STERLING RETRACES BEARISH BELOW 1.5970 THE NEXT LEVEL OF SUPPORT IS, 1.5923 IF THIS LEVEL DOESN'T HOLD THE NEXT LEVEL OF SUPPORT IS, 1.5893 IF STERLING CONTINUES BEARISH THE FINALLY LEVEL OF SUPPORT IS, 1.5848 BEFORE STERLING FINDS BULLISH VOLUME.
REMEMBER FUNDAMENTAL DATA SUPERSEDES TECHNICAL DATA, CHECK YOUR ECONOMIC CALENDAR DAILY FOR EVENT OPPORTUNITIES.
TRADE WITH THE TREND!
WWW.CREATESPACE.COM/3597011 (buy our book today, "Speed of Space" Mindseed Principles of Financially Harmony and Unlimited Happiness!)
WWW.SPEEDTRADER24.COM
CATCH UP WITH US ON FACEBOOK: idominatefx@gmail.com
THANK YOU FOR YOUR TIME AND HAVE A GREAT DAY.
SO THE LAST TWO MONTHS YES, STERLING HAS BEEN BEARISH. BASICALLY I'M WRITING THIS BLOG DUE TO THE BULLISH RETRACEMENT THE LAST WEEK DATING BACK TO, 11/16/2012 (1.5834 LOW) STERLING HAS GAIN, 134 PIPS AND ACTUALLY HAD A 100+ PIP DAY ON FRIDAY, 11/23/2012 WHICH IS RARE, BUT DUE TO POSITIVE NEWS OUT OF THE EURO ZONE.
STERLING CLOSED ABOVE, 1.6000 AT 1.6032 GOING IN NEXT WEEK SEEKING SUPPORT FOR, 1.6000 WHICH IS A MAJOR SUPPORT LEVEL FOR BULLISH VOLUME TO RETURN. NOTHING HAS CHANGED TECHNICALLY FOR STERLING, IT MUST FOUND SUPPORT ABOVE, 1.6175 ON THE W1. TIME FRAME, FOR YEARS IT JUST BEARS ONCE IT REACHES THE 200 M.A. ON THE W1. TIME FRAME, I WOULD SAY THERE'S A DIFFERENCE ON THIS BEARISH RETRACEMENT! IT HAS STOP AND RETRACE BULLISHLY OFF THE 60 M.A. ON THE W1. TIME FRAME. NORMALLY THE GREENBACK JUST PUNISHES RIGHT THROUGH THE 60 M.A. AND CONTINUES TO BEAR, THIS TIME STERLING IS RECOVERING FASTER AND TECHNICALLY MUCH BETTER!
THE EURO ZONE FUNDAMENTALS SEEM TO BE IMPROVING THIS MAY HELP, STERLING MOMENTUM BUT WHAT IS NEEDED IS BASICALLY FOR B.O.E. TO RAISE INTEREST RATES OR AT LEAST RAISE THE BANK RATES! NOTHING HAS BEEN DONE FOR A WHILE, A CHANGE IN POLICY WITH ONE OF THE TWO RATES WILL HELP STERLING GREATLY.
WITH THE EURO ZONE BEING LEAD BY THE "NON-CONSERVATIVES" AND THE UNITED STATES BEING LEAD BY, THE "NON-CONSERVATIVES" IT WILL BE VERY INTERESTING TO SEE WHAT THE MAJOR LIQUIDITY PROVIDERS FOR OUR WORLD ECONOMY DO, HISTORICALLY WITH CURRENT POLITICAL LEADERSHIP THEY WILL NOT COME IN!! THE ECONOMY WILL OR WE WILL START THE "DOUBLE DIP" SOON.. HONESTY IT ISN'T SHOWING ANY SIGHTS YET, AS OF THIS BLOG THE DOW IS AT 13,000 SHOCKLEY AND STERLING IS ABOVE 1.6000 WITH A BULLISH DAY ON A "FRIDAY!" SO WILL THE LIQUIDITY PROVIDERS COME IN DI SPITE WHO RUNNING THE WESTERN WORLD POLITICALLY OR WILL THEY RUN TOO ONE OF THE POPULAR EMERGING MARKETS! OR WILL THEY JUST SIT AND WAIT ON THE SIDE-LINES OR WORSE, SHORT THE MARKET AND CRUSH THE MASSES. EMERGING MARKETS ARE THE BEST INVESTMENT!, WHICH WILL STILL DROP THE DOW, OR JUST MAYBE SOMETHING DIFFERENT AND NEW! MAY HAPPEN MAYBE THE PRIVATE SECTOR AND MAJOR LIQUIDITY PROVIDERS WILL OVER-LOOK WHO'S IN POLITICAL CONTROL, WHO'S RAISING TAXES! AND JUST DO WHAT'S BEST ECONOMICALLY AND RAISE THE ECONOMY!! I DON'T THINK SO.....
WHAT ABOUT THE FOREX MARKET, WELL I HAVEN'T BEEN ABLE TO DO ANY POSITIVE SUPER ACTIVE TRADING TECHNICALLY SINCE MAY OF THIS YEAR, EVEN THOUGH THE MONTH OF AUGUST WAST BULLISH. BASICALLY HOLDING ON TWO A POSITION TRADE FOR NOW, THE VOLUME IS BELOW AVERAGE, SLOW, CHANNELING AND THE GEO-POLITICAL EVENTS THIS YEAR ARE POINTING TOWARDS A DOUBLE-DIP EVENT THOUGH NOTHING BY THE NUMBERS SAY THIS, BUT IT'S STILL VERY EARLIER LETS SEE WERE WE ARE THE END OF THE SUMMER OF 2013. AS FOR STRONG TRADING VOLUME OF A BULLISH NATURE OR TRENDS ESPECIALLY IF THE MARKETS BEGINS TO FALL IN FOREX THE SAVE-HAVEN CURRENCY IS THE GREENBACK, YOU CAN REVIEW PREVIOUS BLOGS OF MINE THAT COVER THIS SITUATION TECHNICALLY. IF YOU CHOOSE NOT TO GO THE SAVE-HAVEN ROUTE, KEEP A EYE ON THE STERLING AND THE AUSSIE FOR STRONG COUNTER-TREND BULLISH TRADES & TRENDS DURING THE DOUBLE-DIP. A SAFE WAY TO ALSO TRADE IS JUST TO FOLLOW THE FUNDAMENTAL RESULTS OF THE PAIRS AND JUMP IN AND OUT OF THE VOLUME BASE ON THE RESULTS OF THE EVENT.
WEEKLY TECHNICALS FOR STERLING FOR THE WEEK ENDING 11/30/2012
BULLISH SUPPORT FOR STERLING FOR THIS WEEK IS, 1.5940 (CLOSED AT 1.6032) THE NEXT LEVEL OF RESISTANCE TO BREAK IS, 1.6004 A BULLISH STERLING CONTINUES AND BREAKS 1.6045 AND A STRONG STERLING BULL REACHES, 1.6106 AND HIGHER THIS WEEK..
IF STERLING RETRACES BEARISH OFF OF 1.5940 THE NEXT LEVEL TO LOOK FOR SUPPORT IS, 1.5876 IF STERLING CONTINUES TO BEAR THE NEXT LEVEL WILL BE 1.5835 AND FINALLY IF STERLING CONTINUES TO FALL IT MAY HIT A LEVEL OF 1.5774 BEFORE BULLISH VOLUME RETURNS THIS WEEK.
DAILY TECHNICALS FOR STERLING FOR MONDAY'S SESSION 11/26/2012
BULLISH SUPPORT FOR STERLING IS AT, 1.5970 (STERLING CLOSED AT 1.6032) THE NEXT LEVEL FOR STERLING TO REACH IS, 1.6017 A BULLISH STERLING CONTINUES THIS SESSION TO 1.6047 AND A STRONG BULL REACHES AND BREAKS 1.6092 FOR TODAYS SESSION, 11/26/2012.
IF STERLING RETRACES BEARISH BELOW 1.5970 THE NEXT LEVEL OF SUPPORT IS, 1.5923 IF THIS LEVEL DOESN'T HOLD THE NEXT LEVEL OF SUPPORT IS, 1.5893 IF STERLING CONTINUES BEARISH THE FINALLY LEVEL OF SUPPORT IS, 1.5848 BEFORE STERLING FINDS BULLISH VOLUME.
REMEMBER FUNDAMENTAL DATA SUPERSEDES TECHNICAL DATA, CHECK YOUR ECONOMIC CALENDAR DAILY FOR EVENT OPPORTUNITIES.
TRADE WITH THE TREND!
WWW.CREATESPACE.COM/3597011 (buy our book today, "Speed of Space" Mindseed Principles of Financially Harmony and Unlimited Happiness!)
WWW.SPEEDTRADER24.COM
CATCH UP WITH US ON FACEBOOK: idominatefx@gmail.com
THANK YOU FOR YOUR TIME AND HAVE A GREAT DAY.
