Simultaneous Release at www.thegeekknows.com
On an usual Friday, happens usual profit taking.
Looking at the charts, lines of 1.4843 and 1.4967 have been playing pivotal roles.
As i mentioned the in previous article, 1080 and 1100 may act as a lower and upper boundary respectively and indeed seems so today.
Oil remains at $75+, the top of the current range while gold is taking a breather at $1050+.
Many traders feel that the current correction seen across all is simply profit taking.
Well, i guess someone needs to pay for the weekend drinks right
If this is indeed true, Monday may result in the resumption of the current trend.
Personally, i always watch the equities for signs of a sentiment breakdown as a clue.
Bullish momentum will need to regain 1.4910 while further bearish attacks may need to overcome 1.4865 first.
The weekends are finally here!
Besides the usual stuff i do, i intend to add a new segment to the blog.
Stay tuned ok?
My eyes are very tired now. Therefore no BattleForge for me tonight.
You can visit my blog for more EUR/USD and forex articles.