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EURUSD Near its Yearly High
Sun, Jul 26 2009, 22:12 GMT
by Mohamed I El Shall
4XTechnicales.com
GBPUSD
The sterling against US
dollar on med term is in up trend as long as it stays above 1.6310. Since
taking out the important price level at 1.6376 on 15th July 2009.
But on short term GBPUSD is correcting down after closing below 1.6431, the
pair of currency needs to have an hourly close above 1.4682.
Trading
Strategy: Buy at 1.6376
with a stop loss at 1.6300 and take profit 1.6478.
Resistances:
1.6478/1.6544/1.6600
Supports:
1.6376/1.6310/1.6265
EURUSD
The pair is in up trend on
both med and short term as long as it stays above 1.4120. A four hours close
below that level will change pair’s direction to down. The fight between supply
and demand forces for the pair is clear since it had been bouncing strongly
between 1.4119 and 1.4291. A daily close above 1.4291 will bush the pair higher
to test current year high at 1.4333.
Trading
Strategy: Buy from 1.4199
To 1.4163 with a stop loss at 1.4100 and 1.4250 as target.
Resistances:
1.4250/1.4291/1.4333
Supports:
1.4199/1.4163/1.4119
USDJPY
After taking out the
important price level at 94.50 on last week USDJPY had confirmed the up trend
direction. The pair of currency has to stay above 93.50 in order to maintain
its bullish direction. A four hours close below 94.57 would change pair’s
directional bias to neutral.
Trading Strategy: Buy from 94.46 with stop loss at
94.24 and take profit at 95.00.
Resistances: 95.11/95.60/96.00
Supports:
94.46/93.86/93.51

Published on
Sun, Jul 26 2009, 22:20 GMT
Archive
- EURUSD Near its Yearly High
Published On Sun, Jul 26 2009, 22:12 GMT
- EURUSD finished its 4th IM wave
Published On Wed, Jul 15 2009, 23:27 GMT
- GBPUSD Elliot Waves Count
Published On Mon, Jul 13 2009, 23:33 GMT
- EURUSD Found a Good Demand
Published On Mon, Jul 6 2009, 23:45 GMT
- Bounce or Break. This is The Question?
Published On Mon, Jul 6 2009, 03:38 GMT
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