2 April 2008 - 22:04Trading Advice 4/2/2008

I hope many of you were able to take a nice profit on my short USD/CAD recommendation today. It came down and hit the one support level I failed to mention yesterday at 1.0130. The bad news is I forget to  list every support level, the good news is there will soon be a whole technical analysis page or pages created on the site which will list all the support levels for you.  GBP/USD ran into a wall today when it hit the 50% Fibonacci retracement on the move from $1.93 to $2.04. at $1.9898 and looks like it wants to head back down to the Fibonacci at $1.9782 sometime tomorrow morning but I must warn you that if you try to jump in now and ride it down it is wise to get out BEFORE the big ISM report tomorrow.