Professional Documents
Culture Documents
1.65
1.64
1.63
1.62
1.61
1.6
1.59
1.58
1.57
17Sep09 01Oct 15Oct 29Oct 12Nov 26Nov 10Dec 24Dec 07Jan 21Jan 04Feb 18Feb
Comment: A potential, if crooked, ‘double bottom’ as Cable tests the recent high at 1.6242. This is merely
the first of many upside obstacles of which the next is a large Ichimoku ‘cloud’. Note that 1.6375 is the mean of the
last thirty years so no wonder prices have been hovering around here for seven months.
Strategy: Attempt longs at 1.6210, adding to 1.6140; stop well below 1.6000. First target 1.6240, adding to
longs on a sustained break above 1.6250 for 1.6400.
Chart Levels:
Support Resistance Direction of Trade
1.6137 1.6225
1.6063 1.6242*
1.5925 1.6300
1.5895 1.6355
1.5832* 1.6400