Weekly Review 6 September 2010


Hello traders,

Last week was little boring, well, most of it anyway, and hopefully the Non Farm Payrolls release on the last friday will bring new energies to the market this week, and for this month.

We have few trades we will look for:

1- Gold – potential double top with powerful bearish divergence. The big move will begin with the break of weekly uptrend line.

2- Usd\jpy – we are still waiting for daily breakup of the downtrend line.

3- Eur\usd – 1.2910-1.2920 is strong resistance, on hourly chart there is a potential bearish divergence and expectations for short down move, but break above this resistance will cause a continue up move.

4- Gbp\usd – is moving on 4 hours down channel.

5- Nzd\usd – potential short down move, the same as the eurusd.

6- Aud\usd – Potential double top on daily chart combined with bearish divergence.

That’s all for now guys.

Have a great and successful week.


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