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Thread: Chart of the Day
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  #526 (permalink)  
Old 10-23-2009, 08:50 AM
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Originally Posted by Thomas Long View Post
Thanks to lissyking and Franosh for offering their thoughts on the chart below. Time will tell for sure what will happen so we will all have to wait it out. Thanks again.
Hey Tom

Do you get the chance to look at the eur/gbp? Today's news for the pound GDP had a massive surprise today with the report came out worst than expected with -0.4%. With that report, buyers went into the market for this pair rapidly. Also it bounced nicely from the trendline which starts from the low point as first touch of the trendline August 6, second touch on august 18 and 19.....and now the third touch today. Finally, drawing the fibs from the low point to the high point, this pair has bounced off the 38.2% level............This pair is telling us it is going up again. What do you think?

Kingsley
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