MARKET REVIEW MON, 10 NOV. WEEK 46

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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