August Update Trading Ideas

Euro Chart 2010

Euro has met with Resistance at its Monthly R1 .... Which seems like a good spot for it ... unless there is a major news in favor of the euro we might not see a major move for the rest of the month. Great support at 1.30 ~ 1.27 levels. IMO Monthly R1 and the Pivot will be the Range.

Great British Pound - Cable bounced off its weekly S1 .... So a possible Run to the weekly R1 will give a great oppurtunity to knock down the GBP/USD Pair ...

GBP Chart ugust 2010

The Japanese Yen against the US Dollar is in its Downward Trend ... it did bounce of it 52 week low ... But no real signals of a reversal on this pair. The Ranging for the pair should be its Monthly S1 and Monthly Pivot.

We can only belive that the trend is changing when there is a break of the trendline.

USD/JPY Chart 2010