Cable , Euro and AUD – 21-01-2010

Cable

Euro went down and Cable kept holding. Well it can happen but given the levels Euro has gone , it is a bit unnatural. I strongly feel , there is more downside still left for Cable. If we look at the daily chart the shooting start candle two days before is already making things a bit bearish and that phase has not ended as yet. I would be still waiting for 1.6100 levels which can extend to 1.6000 – 1.5800(Less chance but within the possibility). I am waiting for it to come down before I can take a position trade and than go to sleep for next few days . The stochs are moving down but they still have some more way to go.

Euro

THAT WAS a BIG FALL!!! expected the direction but not the severity . None the less , the stage is not set for a rise , but not before some more pings to the bottom, That is definitely  a possibility. Specifically considering the fact the GBP has not shown a down move as yet , Before Euro can start going up , any down moves of GBP can show some movement down for euro as well. The stochs are heavily oversold and an up move can be starting from nextweek onwards. It would be worth a while to keep an eye on EUR GBP . This pair is not quite at the bottom now but almost there . This pair can give some good indications on EUR and cable both.

AUD

AUD  is going as expected . Upward bumps are there but Gold , with its downward move it pulling AUD along though I am getting a bit unsure about how long this move can continue. Another 60 odd pips and I would stand aside and watch