15 April 2010

STG/DEM : Revisiting an Old Friend

  • Recall STG/DEM = 1.95583/(EUR/GBP)
  • Chart of STG/DEM (lovely!) appears to be good for one more leg down.
  • Currently forming a large triangle, meaning downtrend continuation expected.
  • Will not make the recent mistake of jumping the gun on EUR/GBP again. But, at some point, will want to buy the latter.
  • Of course, have to remain flexible enough to sell EUR/GBP if breakout occurs on the other side of the triangle.

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