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Thursday, 11 March 2010
Technical Analysis for EURUSD 1 Mar 2010
Written by Administrator   
Tuesday, 02 March 2010

As you can see on h4 chart below, the EURUSD attempted to push higher on Friday after failed to break below 1.3450 area (potential nearest term bottom), slipped above the minor bearish channel indicating potential upside correction especially if price able to break above 1.3690 targeting 1.3750 – 1.3850 resistance area .

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Technical Analysis for GBPUSD 1 Mar 2010
Written by Administrator   
Tuesday, 02 March 2010

The GBPUSD was indecisive on Friday. Price attempted to push lower, bottomed at 1.5150 but closed higher at 1.5249. The bias is neutral in nearest term but overall I am still in bearish mode for this pair with potential target around psychological level 1.5000 this week. Immediate resistance at 1.5250. Break above that area should lead us into no trading zone but the main scenario should remain bearish as long as price move inside the bearish channel and any upside momentum should only be seen as a corrective movement.

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Technical Anlysis for USDJPY 1 Mar 2010
Written by Administrator   
Tuesday, 02 March 2010

The USDJPY attempted to push higher on Friday, topped at 89.49 but further upside correction was rejected as price closed lower at 88.84. This fact should keep my bearish outlook intact with nearest technical target around 87.35 area especially if price able to break below 88.50 support area. Immediate resistance at 89.50. Break above that area should lead us into no trading zone testing 90.50 area but overall I still prefer a bearish scenario at this phase.

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Technical Analysis for USDCHF 1 Mar 2010
Written by Administrator   
Tuesday, 02 March 2010

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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