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Trading Plan for June,22 2009

It seems GBP and EUR may downtrend next week.

The yellow downtrend line had showed clearly a ‘M’ is shaping.

After climbing up for weeks, GBP seems have no enough strength to going up. News said the UK is suffering from high unemployment rate and more sterling will be printed in the next few month.

Here I only give suggestions on technical charts, I do not use macroeconomy data to support my trading plan. I am a chart reader.

So, sell GBP @1.65 and take profit @ 1.60 sounds a good advice in the trading from June,22-June,27.

And, stop loss and lots  depend on your attitude on risk.