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Monday, August 31, 2009

UNFORTUNATELY WE JUST MISSED THE TAKE PROFIT. LOW QUOTE HAS BEEN
150 03/10 AS FAR AS i HAVE SEEN. CURRENTLY WE ARE IN A LITTLE CORRECTION. I DO NOT EXPECT TOO MUCH FROM THIS. TOMORROW SPT.1ST LONDON WILL BE BACK FROM HOLIDAYS AND I AM VERY CURIOUS WHAT THEY ARE GOING TO DO. I WOULDNT BE SURPRISED THAT THEY WILL SELL THE OVERVALUED GBP/USD DOWN TO 1.6000 AND LOWER. THE RESULT OF THAT ON GBP/YEN IS OBVIOUS. I SUGGEST TO TAKE THE TAKE PROFIT OUT OF GBP/YEN AT 15000 AND WE 'LL FOLLOW THE FURTHER DEVELOPMENTS. OF COURSE IT'S UP TO YOU. NOW TE POSITION IS IN DEEP PROFIT. YOU COULD SET A STOP LOSS ABOVE 15200 RESISTANCE OR YOU LEAVE IT OPEN FOR A FURTHER DOWNMOVE INTO THE 14800 AREA AND LOWER PERHAPS. THE LATTER BEING MY PERSONAL RECOMMENDATION BUT I CAN IMAGINE ALSO THAT YOU WOULD LIKE TO TAKE PROFIT, PERHAPS PARTIALLY.
CURRENTLY I AM LOOKING TO USD/CAD. I THINK USD/CAD HAS A LONG WAY UP TO GO. I DON'T WANT TO GO INTO DETAILS AS YET BUT A USD/CAD AT 1,50 , BY YEAR END I DO NOT SEE AS IMPOSSIBLE. IN ANOTHER POST I LL GO DEEPER INTO THIS.

REGARDS
PETER

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