Wednesday, October 6, 2010
More charts USDCAD, EURGBP
EURGBP is at a level where we could see a correction lower. 0.8730 is a big pivot and the 38.2fib from the 2008 highs to 2010 lows, the 50fib from the 2009 high to 2010 low and also the 61.8fib from the 2010 highs to lows. It is also the trendline from the 2009 highs.
I think this is a low risk short back to 84.80 at least
If the dollar gets a bounce then I like EURCAD or maybe AUDCAD better.