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EUR - USD 26 OCT 2009 ( PROFIT )

The EURUSD bullish momentum was paused on Friday. This may caused by a profit-taking activity on the weekend but some people, including me, start to worry about potential downside correction or even a bearish reversal.We seem to have a downside pressure as price now testing the lower line of the bullish channel which has been a good support so far. Although not automatically set up a bearish reversal scenario since false breakout/down do happen, a violation to the downside of the bullish channel could be a serious threat to my bullish outlook testing 1.4920 even key support level 1.4850 area.

11PIPS WITH ROKOKSALEM

BUY : 1.5013 ET /TP: 1.5024SL: 50PIP
 

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