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Daily Outlook

This report has been deactivated

USD/JPY daily

Fri, Nov 30 2007, 14:37 GMT
by Dimo Dimov

Karoll  |  View company's profile


Elliott Wave Analysis

For more information and subscription to the full daily and weekly Elliott Wave analysis on Majors please e-mail to Dimo Dimov If you'd like to receive the daily updates for the US stock indices, please e-mail to anikolov@karoll.net
The chart present the movement started from 107.19. I think it is corrective in nature and is developing as a double corrective combination. When it is over, I will expect at least 61.8 % retracement so I will look for an entry level for a short position. From a short term point of view a key support is 110.01 so I give a strategy to sell below it. A resistance level is 111.60.

Trading strategy: 08:55 EST; 12:55 GMT

Sell on break of 110.01 (sell stop order at 110.00), stop loss – 110.90, target –108.65

Confidence level – moderate

Daily Outlook


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This analysis has only informational and educational purpose and does not represent a trade proposal.
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