yesterday cable rally was stopped at the place where it should be , that is before 9365. but the fall from 9360 is shallow and does not inspire confidence. One reason could be lack of volume due to NFP report coming to-day.
Wavewise we still favour a 5th wave fall below 9180 to reach 9130/9060 zone. But since last 2 days the chart is looking consolidative. All in all the confidence is low and volatility is expected to be very high to-day because of NFP no. forecasted by analysts vary from as low as 35k to as high as 185 k.
STRATEGY: For today Buy a break of 9405 or SELL a break of 9260 and trade with tight stop loss . We have exited our SHORT from 9335 at 9290 and currently neutral.
Disclaimer: All information on this web site is subject to change. The use of this web site constitutes acceptance
of our user agreement. All publisher financial articles at
FXtree.com are those of the individual authors and do not represent trading recommendations
of FXtree.com or its staff.
