Daily outlook
03 September 2010
Most of the currencies consolidating within a small range waiting for the NFP, 8:30 AM EST watch the news and do not enter the market until you get a clear direction which way will continue. As usual we will see some wild move and you will get the itch to enter, don not enter until a clear trend has been identified. Most of the currencies are in a down trend or in an uptrend, plot your lines where support and resistance is and wait for a clear candle either above resistance or below support, then wait for the retest. All yesterday's analysis stands as it is, no changes for today. I am bearish on Euro Under 1.2795-1.2750, bearish on Gbp under 1.5350,Bullish Usd/Cad above 1.0550, Bullish on Usd/jpy above 84.88.
