Monday, November 10, 2008

My position late friday ended up in break even. It seems the market has turned over the weekend. This is a rare situation but sometimes it happens. In forex everything is possible.

Monday morning. The currency that is most volatile is GBP, EUR and CAD. I will not talk on CAD since I dont trade it. For GBP and EUR, it has grown in strength. Market has turned and the trade is now to long GBP and EUR pairs.

I would be looking for opportunity to long GBPJPY and EURJPY. These are the pairs that shown significant trend turn that long position from now on will have a higher chance of profit.

At the moment all GBP and EUR pairs are making a correction. If support level holds, take your long entry on next low.

Good luck

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