Forex Trade Setups Commentary: GBPUSD, EURJPY Pin Bar recap, 18th October 2010 update

The GBPUSD pin bar configurations which we discussed in last Friday's commentary coming good bearish today.

The installation was counter-trend and gave traders a nice opportunity for a profit of 2: 1, level of dynamic support for 21 days ema is hovering just below;How can we see a rotation Back upwards from here. Note how this support area 21 day ema held strong on recent test of disadvantage.

EURJPY:

The EURJPY fired off a fakey bullish signal in line with the trend that we discussed in the commentary last week. This setting does not work out and we just wanted to post it here to demonstrate that happen losses.

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Comment:

The dollar closed today much higher against other majors, but gave much of his earnings start session as the New York session came to a close.

Gold and silver pin formed bar reversals in line with the uptrend dominant today as investors watched last week's weakness, buying opportunity.

The Dow has added 80 91 points, or 0.73%, S & P 500 gained 8.52 points, or 0.72% and the Nasdaq acquired 11.89 points, or 0.48%.