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Technical Analysis for EURUSD 9 Mar 2010 |
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Written by Administrator
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Tuesday, 09 March 2010 |
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The EURUSD attempted to push higher yesterday, topped at 1.3703 but
closed lower at 1.3632. The bias is neutral both in nearest and medium
term as price still consolidating. The bullish correction scenario
after rejection from 1.3450/30 (triple bottom) remains intact as price
still move inside the minor bullish channel with 1.3750 – 1.3850 as
corrective target but still in a major bearish scenario. Immediate
support at 1.3580 area. Break below that area could trigger further
bearish momentum re-testing 1.3450/35 area but only clear break below
1.3450/35 area can be seen as bearish continuation confirmation
targeting 1.3100 area.
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