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Thursday, 11 March 2010
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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EURUSD Weekly Summary: False breakout or further upside correction?
Written by Administrator   
Sunday, 28 February 2010

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
Written by Administrator   
Thursday, 25 February 2010

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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Technical Analysis for EURUSD Daily Forecast: February 25
Written by Administrator   
Thursday, 25 February 2010

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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