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Currency Technical Report
Fri, Oct 23 2009, 11:35 GMT
by George Antonakos
EUR/USD
Resistance : 1,5030-35/ 1,5060-70/ 1,5100/ 1,5130/ 1,5160-70
Support: 1,5000/ 1,4960-70/ 1,4900-10/ 1,4870/ 1,4830-40/ 1,4800/ 1,4750
Comment : Our lower targets were achieved during yesterday’s highs, but retracements remained weak, indicating that buyers still dominate. Important resistance emerges at 1,5100 area, which is the most possible target. As you can see in the daily chart two different channels are met at these levels and these levels should not be easily breached. Next targets are set at 1,5160-80, but if these levels are reached, a move to higher levels with next target at 1,5250-00 area.
Important support emerges at 1,4965-80 area, followed by 1,4830-50 area.
*STRATEGY: Our first targets were achieved. We will try sell orders today close to 1,5100, adding more at 1,5160, and setting stops above 1,5185. Positions should be small. Our target will be at 1,4980-00.
*The above mentioned strategy refers to orders that we may follow for personal accounts, depending on the market analysis and the potential reach of resistance and support levels. We do not encourage buy or sell orders, as its effective use is based on correct risk management and the ability of position readjustment depending on current conditions...
Published on Fri, Oct 23 2009, 11:38 GMT
Archive
- Currency Technical Report
Published On Thu, Nov 19 2009, 12:23 GMT - Currency Technical Report
Published On Wed, Nov 18 2009, 13:36 GMT - Currency Technical Report
Published On Mon, Nov 9 2009, 11:37 GMT - Currency Technical Report
Published On Thu, Nov 5 2009, 12:52 GMT - Currency Technical Report
Published On Mon, Nov 2 2009, 12:37 GMT
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Legal disclaimer and risk disclosure
- The details and information included in the provided analysis, are part of research based exclusively on currency charts and are of purely instructional and educational nature. None of the information featuring in the analysis can be considered as an invitation for opening positions in FOREX market or in the market of forward contracts or any securities listed on an organized or unorganized market.
- We assume no responsibility for any kind of losses ,profits or property loss resulting, in whole or in part, from acts that are based either directly or indirectly on the processing or the use of information, details and strategies, the reader may find in the analysis. The readers hold full responsibility for the use and the results of their actions.
- The recipients of the analysis must acknowledge and accept that investment choices of any kind, especially concerning the FOREX market, contain risks (high, low and occasionally zero) of reduction or even loss of their investment. Therefore, they should always be cautious prior to any kind of action.
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