20 May 2010 technical strategy

Guys, sorry for the late analysis. Just coming back from Shah Alam. It’s my sister’s convo :) .

A short analysis should do.

Yes, we see the bull starting to take it steps in the early hours of trading. This is due to the announcement from the ECB that they are prepare to defend the Euro. Well, its about time..

i saw the price went to 1.24365 and I think its the highest for today. For now, I believe the pair is in BEARISH mood, and looking forward to hit the 1.22682 level soon. A break at that level will push the pair straight to 1.2190 and eventually the 1.2000 level.

Happy trading guys! Its bear all the way!

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