Intraday Market Thoughts

On Gravestone Dojis, EURGBP & Oil

by Ashraf Laidi
Oct 19, 2012 19:42

Both the Dow-30 & S&P500 testing their 55-DMA for the first time in 2 months but are also respecting their June trendline. Also watch the GRAVESTSONE DOJI on WEEKLY Dow-30 and SP500, which could be a potentially bullish reversal. The EURGBP trading idea featured in Tuesday's Premium Insights remains in progress, therefore we recommend taking another look at the rationale of those trades & charts against the price action of the last 3 days. The WEEKLY Gold testing its 55-DMA for the first time in 2 months, while oil continues to respect its 200-WMA for the 4th consecutive week. Both EURUSD in progress. CADJPY hit all targets and so did 1 of 2 GBPUSD, with the other in progress. 1 of 2 EURJPY remaining in progress after missing the final target of 104.20 by 6 pips, while the other remaining unfilled (missed entry by 7 pips). USDJPY and AUDUSD were stopped out. EURGBP in progress. 1 of 2 gold in progress, the other stopped out and silver remaining in progress. US crude oil remains in progress. For direct access to these trades and the technical rationale to that featured EURGBP play and charts, click here: NONsubscribers can join here:


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