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Technical Anlysis for USDJPY 1 Mar 2010 |
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Written by Administrator
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Tuesday, 02 March 2010 |
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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 |
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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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EURUSD Weekly Summary: False breakout or further upside correction? |
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Written by Administrator
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Sunday, 28 February 2010 |
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The EURUSD made another indecisive movement this week. Price
attempted to push higher, topped at 1.3691 on Tuesday but still closed
below 1.3650 on Friday indicating limited upside corrective pressure.
On daily chart below we can see that price slipped above the minor
bearish channel but closed lower around the upper line of the minor
bearish channel. While long term outlook remains bearish, the medium
term outlook is in critical technical phase. The fact that price
slipped above the minor bearish channel could open the way for further
bullish correction towards 1.3850 area.
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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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