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Technical Analysis for GBPUSD Daily Forecast: February 25 |
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Written by Administrator
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Thursday, 25 February 2010 |
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GBPUSD Forecast:
The GBPUSD was indecisive yesterday. The nearest bias is neutral but
the main scenario remains bearish as price still move convincingly
inside the bearish channel at least testing 1.5347 before targeting
1.5250 area. Immediate resistance at 1.5450/70 area. Break above that
area could trigger further bullish correction testing the upper line of
the bearish channel. I still prefer a bearish scenario with sell on
rallies strategy at this phase.
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Read more...
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Technical Analysis for EURUSD Daily Forecast: February 25 |
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Written by Administrator
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Thursday, 25 February 2010 |
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EURUSD Forecast:
The EURUSD attempted to push higher yesterday, topped at 1.3625 as a
temporary reaction after The Fed decided to keep the interest rate low
but further bullish momentum was rejected as price closed lower at
1.3539. This fact should keep the bearish scenario intact. On
h4 chart below we can see price is now testing the minor trendline
support (yellow).
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Read more...
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Technical Analysis for EURUSD 17 Feb 2010 |
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Written by Administrator
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Wednesday, 17 February 2010 |
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EURUSD Forecast:
The EURUSD had a significant bullish correction movement yesterday,
topped at 1.3778 and closed at 1.3765. On h4 chart below we can see
that my falling wedge formation has been violated to the upside
confirming further bullish correction targeting 1.3850 before testing
1.4030 area. However, note that the major bearish scenario should
remains intact as long as price is moving inside the bearish channel
and the current bullish momentum should be seen just as corrective
movement. Immediate support at 1.3675. Break below that area could be a
potential threat to the bullish correction scenario testing 1.3585
area.
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Read more...
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Technical Analysis for EURUSD 17 Feb 2010 |
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Written by Administrator
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Wednesday, 17 February 2010 |
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EURUSD Forecast:
The EURUSD had a significant bullish correction movement yesterday,
topped at 1.3778 and closed at 1.3765. On h4 chart below we can see
that my falling wedge formation has been violated to the upside
confirming further bullish correction targeting 1.3850 before testing
1.4030 area. However, note that the major bearish scenario should
remains intact as long as price is moving inside the bearish channel
and the current bullish momentum should be seen just as corrective
movement. Immediate support at 1.3675. Break below that area could be a
potential threat to the bullish correction scenario testing 1.3585
area.
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Read more...
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