9-13th July 2012 weekly Trading Updates

Last week saw EUR drop like a stone and hit strongly oversold Territory. This week Trading, we are to Short GBP/USD around 1.5500/10 area for a target around 1.5300 or below. Any movement of this pair above 1.5550/70 area will cancel the expected Bearish scenario and give rise for a Retracement.But overall picture shows a srong Bearish Tendency for this pair. On the side of the crosses pairs, we pick up EUR/AUD after traded in oversold zone last week.We are to Buy the pair upon some retracement and will hold our position till overbought area. Any movement back below last week low should cancel the expected Bullish correction. We will kep updating You on the latest development in the market. Do trade safe n Remember to apply good Reward:Risk management.