FXB Daily
Tuesday, January 6, 2009
Tracking the Pound
I'll be keeping an eye on the Pound via the FXB. A new low was made at the end of December, yet the MACD has been rising since the middle of November. I would wait and see if we could get a breakout above $150, at which point it would be above it's 10, 20, and 50 day moving averages. I'd wait for a small pullback before entering a long position.
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IMO, the Pound is going bearish. See my response to your Yahoo FXB message board post:
ReplyDeletehttp://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_C/threadview?m=tm&bn=72891&tid=59&mid=60&tof=1&frt=2