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Forex Signals for 19/01/2010Last week was quite mixed as market turned out to be very tight in relation to major trading levels. The EUR is not looking so good at the moment with the bad news coming out of Greece and some other European nations. USD too is not going anywhere. My view of flight to quality in the dollar seems to be fading at present time. We will need to see some more movement in the market over the coming week and assess what the view will be for the long term. For the short term, USD may be the stronger currency compared to EUR amid the bad news in Europe. The results for last week were quite mixed. Below is a table outlining the performance of the previous week:
This week we still have very tight levels making it quite risky to trade at the moment. I will stay out of any trades until market starts to show some volatility. GBP|USD – Buy – 1.6370 | SL – 1.6338 | TP – 1.6421 Happy trading,Ash Naeck |
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