Trades for Wed 19 Aug 2009

Bullish on the pound

In my previous update I said to keep an eye on the pound. I’m now looking to take an entry. Stops at 163, with a target of 169.5

Long Yen

Both Chaikin Oscillator and MFI are showing accumulation of stock, and a bullish divergence has occurred on the Stochastics indicator although it may be looking overbought. MACD is looking strong. Given it may be teetering on overbought, I’m putting a stop in at 105, price target of 108.4.

Long Euro

MFI is showing a bullish divergence, Chaikin A/D has crossed the zero line, Chaikin Oscillator is turning, and Stochastics are flirting with oversold territory. Stops in at 1.40, target of 1.44.