Monday, September 3rd was an exit in the USA dedicated to Labor Day, hence Monday was not the most active trading day, that is why it is advisable not to erase it from graphic analysis, since because of the losses of liquidity on markets the data was not reliable.
That is why it is recommended to look at the trading analysis only on Tuesday.
GBPUSD pair was not able to break down the resistance of 1.5913 (previous maximum) on Monday-Tuesday and is building a graphical figure of deployment of the trend “Double Top”. At the lowering on opening (the beginning of European session) on Wednesday it will be possible to sell the pair with the stop higher than a resistance level (1.5913). If a signal “Double Top” will be confirmed, then the aim of the descending movement will be the level of 1.5750. If the pair goes into consolidation, the sales will need to be closed for a while, until receiving the signal.
Eurodollar pair is trading worse than a British pound and on Tuesday is slightly lowering after the abrupt growth on Friday provoked by Bernarke’s speech. The quotations entered the previous trading diapason again, but the descending tendency still exists, that is the reason sales will be justified to 1.2500 including, since the lever of support is at this level. The sales are short-term.
Compared to currency, gold looks stable, since it keeps growing, despite the overall market sentiment change. However daily volatility has decreased suddenly and the buying should be stopped and one should watch closely the quotations of yellow metal, since the correction towards growth is possible. At the signs (the absorption of Tuesday candlestick by black Wednesday candlestick) of local deployment all the purchases should be stopped.Social button for Joomla