dimanche 15 novembre 2009
GBPUSD Daily 13-11-09
Posted on 07:26 by Kyuubi
Monday was an up day, breaking the resistance at 1.6685, but take a look at the volume and the close. The Volume was very low, we have to go as far as one month ago the find a day with volume as low as that (12-10-09). Moreover the close was in the middle of the candle, those two indications alert us that professionals are not interested in higher prices.
Naturally, following days of the week dragged the price down to the trend line where a test occured. Again low volume, lower than the two days before : No supply. and price reversed on Friday with an up close. This test bar is very important, I am still bullish for the pair but if we break this candle from downside I would change my mind and expect prices to go down to 1.6300 area.
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