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The Cable

Fri, Nov 30 2007, 17:53 GMT
by Tatsuya Kawanishi

FXstreet.com


The Cable has moved within a 200 pips range this week. We saw the orderly decline in the value of the USD that moved within the down trend channel. However, once the pair broke the projected line of the channel and marked the bottom at 2.0579 at 8.15 GMT, Thursday on Nov 28th , a spike hit the week high at 2.0834.

After hitting the week high, the pair has shown a shapr decline and fluctuates just above the channel. The Cable might get back inside the channel, and we would see it move downwards within the downward channel.

3 moveing averages of 13, 21 and 51 EMA are drwan in red, blue and black repectively.

Chart of the Week


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