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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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Technical Analysis for USDJPY 17 Feb 2010 |
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Written by Administrator
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Wednesday, 17 February 2010 |
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USDJPY Forecast:
The USDJPY was indecisive yesterday, but as you can see on my daily
chart below, price has break above the bearish channel indicating
bearish failure and potential bullish correction scenario testing 91.25
and the major trendline resistance area (blue line). Immediate support
at 90.00 followed by 89.50 area. However, as long as price move below
the major trendline resistance, the major bearish scenario should
remains intact.
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Technical Analysis USDCHF for 17 Feb 2010Technical Analysis USDCHF for 17 Feb 2010 |
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Written by Administrator
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Wednesday, 17 February 2010 |
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USDCHF Forecast
The USDCHF had a significant bearish correction momentum after fell
below 1.0750, bottomed at 1.0650 and closed at 1.0660. The bias is
bearish in nearest term as we are now in bearish correction scenario
testing 1.0507 area. We seem to have a good intermediate support around
1.0650 area so we need a consistent move below that area to continue
the bearish momentum. Immediate resistance at 1.0700. Another movement
back above 1.0700 should diminish the bearish correction scenario back
towards 1.0800/50 area.
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Read more...
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Technical Analysis USDCHF for 17 Feb 2010 |
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Written by Administrator
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Wednesday, 17 February 2010 |
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USDCHF Forecast
The USDCHF had a significant bearish correction momentum after fell
below 1.0750, bottomed at 1.0650 and closed at 1.0660. The bias is
bearish in nearest term as we are now in bearish correction scenario
testing 1.0507 area. We seem to have a good intermediate support around
1.0650 area so we need a consistent move below that area to continue
the bearish momentum. Immediate resistance at 1.0700. Another movement
back above 1.0700 should diminish the bearish correction scenario back
towards 1.0800/50 area.
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Read more...
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