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Technical Analysis for USDCHF 1 Mar 2010 |
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Written by Administrator
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Tuesday, 02 March 2010 |
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As you can see on my h4 chart below, price has break below the minor
trendline support indicating potential bearish correction phase testing
1.0640 support area in nearest term but the main outlook should remain
bullish for this pair. The bias is neutral in nearest term and I think
we area in no trading zone. I prefer to wait for further development
before make any decision but still prefer buy on dips strategy.
Immediate resistance at 1.0800. Break above that area should trigger
further upside momentum and keep the bullish scenario targeting 1.1000
intact for this week.
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