Quick review!, last blog posted 11/08/2011 why? major Dollar bull through January 13, 2012. Sterling had retrace back to 1.5232 which is as close as we want to get to or below the 1.5000 level which is THE MAJOR SUPPORT LEVEL for our Global economy (please review past blogs for details).
Basically Sterling has been (one of) the most impressive currency so fair this year, since 01/13/2012 with a bid price of 1.5232 it has been on a major bull move since hitting a high of 1.6141 this Friday 04/20/2012 after the release of the fundamental trade,"Retail Sales". That +909 pips in just under 100 days, excellent profit taking!
Sterling close Friday at 1.6118 after hitting a high of 1.6141 one of best bullish trend weeks I have taken part of in months, with a low of 1.5817 on 04/16/2012 sterling posted +324 pips at it high Friday. A excellent week for scalping, short-term & swing trading the Sterling bull.
Going into Sunday, 04/22/2012 thru Monday 04/23/2012:
Bullish support level is, 1.6098 if this level holds the next level to break for continued bull move is, 1.6138 the next level is 1.6163 and the final bullish support level is 1.6201
If Sterling doesn't found support at 1.6098 it may fall to 1.6058 if this level doesn't hold the next level is 1.6033 if sterling continues too drop it may hit a low of 1.5995 before finding bullish support.
Major technical outlook for the whole week:
Bullish support level is, 1.6025 (Sterling closed Friday at, 1.6118). The next level too break for continue bullish move is, 1.6148 if this level holds the next level too break is 1.6226 and finally the highest level technically for the week is 1.6343.
If Sterling doesn't find support at 1.6025 it may bear to 1.5902 if this level doesn't hold the next level of support is, 1.5824 if Sterling continues to bear it could hit a low of 1.5707, before regaining bullish volume.
Basically with the performance of Sterling this year so fair and with the Global economy recovering, also the parallel effect of the Olympics being held in London this year, shorting Sterling is highly not recommended, unless you choose to in short-term fundamental trades.
Please review your economic calendar for fundamental events that may effort technical analysis.
Trade with the trend!!, Beware of drag!,(staying in loosing trades and destroying your risk/reward ratios)
Thank you for your time and have a great day.
www.speedtrader24.com
www.createspace.com/3597011
For instant messaging you can find us on Facebook....
Basically Sterling has been (one of) the most impressive currency so fair this year, since 01/13/2012 with a bid price of 1.5232 it has been on a major bull move since hitting a high of 1.6141 this Friday 04/20/2012 after the release of the fundamental trade,"Retail Sales". That +909 pips in just under 100 days, excellent profit taking!
Sterling close Friday at 1.6118 after hitting a high of 1.6141 one of best bullish trend weeks I have taken part of in months, with a low of 1.5817 on 04/16/2012 sterling posted +324 pips at it high Friday. A excellent week for scalping, short-term & swing trading the Sterling bull.
Going into Sunday, 04/22/2012 thru Monday 04/23/2012:
Bullish support level is, 1.6098 if this level holds the next level to break for continued bull move is, 1.6138 the next level is 1.6163 and the final bullish support level is 1.6201
If Sterling doesn't found support at 1.6098 it may fall to 1.6058 if this level doesn't hold the next level is 1.6033 if sterling continues too drop it may hit a low of 1.5995 before finding bullish support.
Major technical outlook for the whole week:
Bullish support level is, 1.6025 (Sterling closed Friday at, 1.6118). The next level too break for continue bullish move is, 1.6148 if this level holds the next level too break is 1.6226 and finally the highest level technically for the week is 1.6343.
If Sterling doesn't find support at 1.6025 it may bear to 1.5902 if this level doesn't hold the next level of support is, 1.5824 if Sterling continues to bear it could hit a low of 1.5707, before regaining bullish volume.
Basically with the performance of Sterling this year so fair and with the Global economy recovering, also the parallel effect of the Olympics being held in London this year, shorting Sterling is highly not recommended, unless you choose to in short-term fundamental trades.
Please review your economic calendar for fundamental events that may effort technical analysis.
Thank you for your time and have a great day.
www.speedtrader24.com
www.createspace.com/3597011
For instant messaging you can find us on Facebook....
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