We booked a 71 pt profit on our long trade as prices faltered from a 1.4100 test with intraday charts overdue for a pullback. We remain bullish, and aggressively so, looking to buy bounces as close as 1.4050, or a 1.4085 breakout. 1.4160 and 1.4295, a 1.618 of 1.3365 to 1.3720 (Aug 16 low and Aug 31 high), are next upside targets.
We booked a modest but quick short profit after prices found support at 114.00, a 5 pip violation of the 61.8% retracement of 112.60 to 116.35. We remain bearish and looking to sell rallies or a break below 114.00. 114.85 is the next rally selling point. Hourlies are hugely o/s and rebounding so scope for a 114.85 test exists.
Continues to chop around this week alternating between strong up and down days. Today is the bull's turn with the pair showing well bid and rallying back towards recent range highs by 2.0175. Overall though our bias remains to the downside and will look to play the range and sell on a top-side failure.
Booked a nice profit on the short after prices began a rebound from close to the MLR's 1% env bottom. Today's sustained breakdown below 1.1800 and historical support at 1.1740 leaves us in rally selling mode. Our target is a Fibo projected low at 1.1550. With daily RSI in the low 20s already we favor selling rallies vs new lows.
Finotec Group Inc.
