Tuesday, August 9, 2005

Space Shuttle Return and Fed Rate Due Later Today

Uptrend: GBP/USD (Buy-Target: 1.8050), AUS/USD, EUR/USD, GBP/JPY
Downtrend: USD/JPY (Sell-Target: 110.2), EUR/CHF (Sell-Target: 1.5520), GBP/CHF, USD/CAD, USD/CHF

As trends persist, there are plenty of opportunities (i.e. being identified via own constructed action index, see example) available at the end of trading yesterday.

I have re-entered GBP/USD position at 1.7849 level after booking a sound 143-pip yesterday and now with a higher target in place. Will continue to monitor and evaluate its potential on end-of-day basis. My other positions are USD/JPY and EUR/CHF with targets listed above.

On a different subject, watch out for price hike at your local petrol station as oil price continues to surge.

Read how the shuttle reenters the earth, and hope they have a safe journey home.

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