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EURUSD Daily Forecast: August 24 |
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Written by Administrator
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Monday, 24 August 2009 |
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EURUSD Forecast:
The EURUSD had a significant bullish momentum on Friday, topped at
1.4375 and closed at 1.4324. On h1 chart below we can see that the
bearish channel has been convincingly violated to the upside indicating
bearish failure and potential bullish scenario. The bias is bullish in
nearest term targeting 1.4446 area.
Break above that area could set up
further bullish scenario towards 1.4719. But notice, that we need a
consistent move above 1.4336 to confirm the bullish view. Immediate
support is seen at 1.4310 followed by 1.4250. Break below those area
could trigger further downside pressure and lead us into no trading
zone since the direction would be unclear.
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Last Updated ( Tuesday, 25 August 2009 )
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