Friday, May 14, 2010


Things look grim for cable as well as the Euro. It reached a low of 1.4497 this morning although it looks as though it's trying to find some footing. If it closes today below 1.4800, the pair may be headed back to 1.3500. However, in a fit of optimism (well that plus positive divergence on the hourly chart and the fact that support is near enough to have a tight stop, I went long at 1.4572. Resistance is at 1.4640, 1.4703, and 1.4851. Certainly if it go back to 1.5053, they'd be out singing.

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