reopenning of the forex market.

Posted on Sunday, January 31st, 2010 at 12:45 pm.

Look for markets retrace back to the weekly pivot point at the beginning of the week. The Forex market will reopen here in a few hours. Markets that are trending like the EURUSD will only pull back up just a little then continue too the 5th fib level getting in to the over sold situation. So at the end of this week we can expect alot of market to show us reversal patterns or trendline breaks. The USDCHF will do exactly the oppisite as the EURUSD and mirror that currency pair they follow each other but also beaware there may be a small lag so make sure you enter a trade in one of the market that the setup is completely declared itself with these currency pairs.