10-01-08
3:26a GMT – Booked another few hundred pips and on the last trade and looking to continue to sell rallies, this time at 62.8% fibonacci support of the latest drop, currently at 1.4240.
Trading Idea: Look for bearish reversal signs between 1.4240-1.4300; shorts favored with targets at 1.4185 and 1.4100. If resistance is broken look for a return to 1.4300.
(click to enlarge)
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Will the monthly Trendline below at February 2002, February 2006 and September 2008 be strong enough to resist the fall and rise back? If so, there will be a big rise