Today we saw Sterling fall, a major bear trend is developing and technically Sterling can't be recommended, fundamentally Sterling needs a Hawkish statement from B.O.E. in this sessions
Inflation Report. If Sterling continues to bear after today's fundamental releases, Sterling will not be a technical bull!
From a technical point of view, mid-term Sterling needs to find major bullish support if it falls to
1.5903, if the level doesn't find support the next major level for Sterling is, 1.5784 but at these levels
Sterling can't be recommended bullishly. Dropping below, 1.5750 means major U.S.D. bull, Safe-Haven trading is in play and possibly the beginning of a Global Double-Dip recession!!!! (review
previous blogs from 11/2011 for details.)
So what happen, other than the Geo-Political data coming out of the E.U. and no Interest Rate increase from B.O.E.... From a technical point of view Sterling hasn't broken the resistance level of a Major 200 moving average on the Weekly time frame (W1) of your trading plate form now for over a
year!!! That 200 M.A. is currently at, 1.6286 technically Sterling needs to beat the resistance and bull past this Moving Average to base a Med-term and Long-term technical bull. Falling below 1.6000 really is a major warning sign.... Time will tell.....
Please check your economic calendar for details of today's session:
4:30 a.m. EST. G.B.P., Status-High 1
Med 1
5:30 a.m. EST. G.B.P., Status-High 1, ****Inflation Report****
8:30 a.m. EST. U.S.D., Status-Med 2
9:15 a.m. EST. U.S.D., Status-Med 1
10:30 a.m. EST. U.S.D., Status-Low (Crude Oil Inventories**) possible strong volume.
2:00 p.m. EST. U.S.D., Status-High 1, F.O.M.C. minutes will be release!
Basically this is it!! If the releases for Sterling aren't Hawkish! and the U.S.D fundamentals support a strong Dollar, the technical bull for Sterling for the Mid-term will be over, Safe-Haven trading technically and fundamentally will be in play...
Daily technical's for Sterling:
Support for a bullish Sterling is, 1.6025 (currently 1.5986, bearish)(8:05 p.m. EST.) Sterling must
find support at, 1.6025 once this resistance level is broke bullishly the next level to break will be, 1.6074 if bullish volume continues for Sterling the next resistance level is, 1.6106 and finally a strong bullish Sterling finishes the session reaching, 1.6152 and higher!!
If Sterling continues to bear below, 1.6025 the next level for support will be, 1.5976 if this support level is broken bearishly the next technical level for support is, 1.5944 and finally if the bear trend continues the finally level for support for Sterling will be, 1.5898 before bullish volume will return..
Trade with the Trend!!!
Thank you for your time a have a great day.
www.createspace.com/3597011
www.speedtrader24.com
email: idominatefx@gmail.com
Catch us on, Facebook.....
FOOTNOTE: Future blog posting will be suspended until technical level return for a bullish market, please review previous blogs.,(11/2011) for Major support and resistance levels during this type of or current market condition, potential Safe-Haven environment.....Actually this decision will be base on the results of today's fundamental releases!!!!
Inflation Report. If Sterling continues to bear after today's fundamental releases, Sterling will not be a technical bull!
From a technical point of view, mid-term Sterling needs to find major bullish support if it falls to
1.5903, if the level doesn't find support the next major level for Sterling is, 1.5784 but at these levels
Sterling can't be recommended bullishly. Dropping below, 1.5750 means major U.S.D. bull, Safe-Haven trading is in play and possibly the beginning of a Global Double-Dip recession!!!! (review
previous blogs from 11/2011 for details.)
So what happen, other than the Geo-Political data coming out of the E.U. and no Interest Rate increase from B.O.E.... From a technical point of view Sterling hasn't broken the resistance level of a Major 200 moving average on the Weekly time frame (W1) of your trading plate form now for over a
year!!! That 200 M.A. is currently at, 1.6286 technically Sterling needs to beat the resistance and bull past this Moving Average to base a Med-term and Long-term technical bull. Falling below 1.6000 really is a major warning sign.... Time will tell.....
Please check your economic calendar for details of today's session:
4:30 a.m. EST. G.B.P., Status-High 1
Med 1
5:30 a.m. EST. G.B.P., Status-High 1, ****Inflation Report****
8:30 a.m. EST. U.S.D., Status-Med 2
9:15 a.m. EST. U.S.D., Status-Med 1
10:30 a.m. EST. U.S.D., Status-Low (Crude Oil Inventories**) possible strong volume.
2:00 p.m. EST. U.S.D., Status-High 1, F.O.M.C. minutes will be release!
Basically this is it!! If the releases for Sterling aren't Hawkish! and the U.S.D fundamentals support a strong Dollar, the technical bull for Sterling for the Mid-term will be over, Safe-Haven trading technically and fundamentally will be in play...
Daily technical's for Sterling:
Support for a bullish Sterling is, 1.6025 (currently 1.5986, bearish)(8:05 p.m. EST.) Sterling must
find support at, 1.6025 once this resistance level is broke bullishly the next level to break will be, 1.6074 if bullish volume continues for Sterling the next resistance level is, 1.6106 and finally a strong bullish Sterling finishes the session reaching, 1.6152 and higher!!
If Sterling continues to bear below, 1.6025 the next level for support will be, 1.5976 if this support level is broken bearishly the next technical level for support is, 1.5944 and finally if the bear trend continues the finally level for support for Sterling will be, 1.5898 before bullish volume will return..
Trade with the Trend!!!
Thank you for your time a have a great day.
www.createspace.com/3597011
www.speedtrader24.com
email: idominatefx@gmail.com
Catch us on, Facebook.....
FOOTNOTE: Future blog posting will be suspended until technical level return for a bullish market, please review previous blogs.,(11/2011) for Major support and resistance levels during this type of or current market condition, potential Safe-Haven environment.....Actually this decision will be base on the results of today's fundamental releases!!!!
No comments:
Post a Comment