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Thursday, 11 March 2010
Technical Analysis for GBPUSD 26 Jan 2010
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Tuesday, 26 January 2010

The GBPUSD had a significant bullish momentum yesterday, topped at 1.6259 and closed at 1.6240. On daily chart below we can see that price is now testing the trendline resistance indicating a critical technical phase. The bias is bullish in nearest term but note that as long as price stay below the trendline, the bearish scenario should remains intact.

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Technical Analysis for USDJPY 26 Jan 2010
Written by Administrator   
Tuesday, 26 January 2010

The USDJPY failed to continue its bearish momentum yesterday. This fact lead me back to no trading zone condition as direction is unclear in nearest term. However, as long as price stay below 91.85, I still prefer a bearish scenario with sell on rallies strategy. Immediate resistance at 90.50 followed by 91.30. Initial support 89.80. Break below 89.80 should trigger further bearish momentum.

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Technical Analysis for USDCHF 26 Jan 2010
Written by Administrator   
Tuesday, 26 January 2010

The USDCHF made another indecisive movement yesterday, but the pair has been making lower highs and lower lows in the last three days indicating consolidation with downside bias. I think we are still in no trading zone. Do not rush jump into the market. Immediate resistance at 1.0350. Break below that area should trigger further bearish momentum targeting 1.0220. On the upside, only a clear break above 1.0507 could be seen as bullish confirmation targeting 1.0600 – 1.0700 area.

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Technical Analysis for EURUSD 25 January 2010
Written by Administrator   
Monday, 25 January 2010

EURUSD Forecast:
The EURUSD was closed higher at 1.4139 on Friday. I still prefer a bearish scenario but the rejection to move below 1.4030/00 support area could trigger further upside correction testing 1.4200 – 1.4250 at this phase. As you can see on my h4 chart below, we have a minor bearish channel (aqua) indicating that technically we are still in bearish view. A violation to that minor bearish channel and a break above 1.4250 key resistance level should be seen as serious threat to the bearish outlook, testing 1.4450 and the major bearish channel (red). Immediate support at 1.4110 area. Break below that area should trigger further downside pressure testing key support 14030/00 area.

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