Comments on: Forex Crunches for the Weekend – June 27 2009 http://www.forexcrunch.com/forex-links-for-the-weekend-16/ Forex Trading with a Personal Touch Mon, 13 Feb 2012 03:45:15 +0000 hourly 1 http://wordpress.org/?v= By: Ted Wood http://www.forexcrunch.com/forex-links-for-the-weekend-16/comment-page-1/#comment-6793 Ted Wood Sun, 28 Jun 2009 07:58:35 +0000 http://www.forexcrunch.com/?p=1358#comment-6793 ... …

]]> By: Ted Wood http://www.forexcrunch.com/forex-links-for-the-weekend-16/comment-page-1/#comment-6792 Ted Wood Sun, 28 Jun 2009 07:57:05 +0000 http://www.forexcrunch.com/?p=1358#comment-6792 Jun-26, 2009 Stuck in a Range, but Look Closer Well the GPD/USD has been stuck in a range. A range from 1.62 at a low to 1.66 at a high. Taking a closer look, it looks like a head and shoulders.. Actually it looks like a “W”. On June 19th then it reach 1.6560. Then it plunged to 1.62. close to the 23rd.. Then it rose to 1.66 to for the head. Next it fell to 1.6231 and rose again to 1,6560 on the 26th before the market closed on Friday. And then a slight turn downward before the day was over. (see GPD/USD 2 hour chart), Now the downward movement of the left shoulder should take place, probably on the European session on Monday. Most analyst are voicing that the GPD/USD is Bullish that is contray to my technical analysis. Will it take place. I do not know. According to all the courses I took, it will happen. I have seen things happen in the FOREX market recently that mystify me. So I will wait for the fundamental data and analyze the chart data before I move. Ted Wood Jun-26, 2009

Stuck in a Range, but Look Closer

Well the GPD/USD has been stuck in a range. A range from 1.62 at a low to 1.66 at a high.

Taking a closer look, it looks like a head and shoulders.. Actually it looks like a “W”.

On June 19th then it reach 1.6560. Then it plunged to 1.62. close to the 23rd.. Then it rose to 1.66 to for the head. Next it fell to 1.6231 and rose again to 1,6560 on the 26th before the market closed on Friday. And then a slight turn downward before the day was over. (see GPD/USD 2 hour chart),

Now the downward movement of the left shoulder should take place, probably on the European session on Monday.

Most analyst are voicing that the GPD/USD is Bullish that is contray to my technical analysis.

Will it take place. I do not know. According to all the courses I took, it will happen. I have seen things happen in the FOREX market recently that mystify me.

So I will wait for the fundamental data and analyze the chart data before I move.

Ted Wood

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