Wed, Apr 25 2007, 12:00 GMT
by Dimo Dimov
Karoll | View company's profile
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The rise of the cable started yesterday is not impulsive in nature. At first glance we have a correction of the previous fall started from 2.0131 i.e. a corrective wave. However my idea is a little different and it is presented on the chart. It suggests that there is a potential terminal impulse (ending diagonal). This pattern suggests one more rise above 2.0061 followed by a fall with an initial target 1.9955. A key resistance is 2.0095. Supports are 2.0022 and 1.9988
Sell on recovery to 2.0062 or on break of 2.0022 (sell stop order at 2.0021), stop loss - 2.0100, target - 1.9890
Confidence level - low
This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.
Published on Mon, Apr 30 2007, 07:17 GMT
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