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Forex Technical Analysis Reports (ActionForex.com)
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Technical analysis reports from selected analysts around the world on forex market. Available in ActionForex.com
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Chart of The Day: USD/CAD
Bearish price action on USD/CAD, a daily chart of which is shown, has finally made a tentative breakdown below the key 1.0200 support level after respecting this level several times this week. Fridays (3/12/2010) breakdown of 1.0200 establishes a new 19-month low for this pair. The current bearishness puts USD/CAD...
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USD/CAD Eyes Parity
4H: The USD/CAD attemped to rally but was quickly subdued in the last session. Looking at the 4H time-frame, we see that the signal was spotted prematurely, and the same candle that would have broken above the declining resistance, actually closed back within the channel.
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EUR/USD Test of Rounded Bottom
The EUR/USD pair continues to be supported above the 1.3450 support. This week, the market closed above 1.35 and appears to be creating a rounded bottom. Today's rally so far heightens that probability but is still premature to call it a reversal signal. The market needs to break above the...
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FX Thoughts for the Day
Cable has broken above the Resistance at 1.5100-30 region and is now trading higher. The Home price data release which showed the fastest pace of increase in the UK house prices in more than seven years supported the price rise. Immediate Resistance is seen in 1.5200-30 region which is expected...
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EURUSD: Recaptures The 1.3735 Level, Challenges The 1.3787 Level
A follow - through higher on its Thursday strength has seen EUR pushing through the 1.3735 level, its Mar 0310 high and challenging the 1.3787 level, its Feb 1710 high in todays trading today. A decisive break and hold above the 1.3787 level will propel the pair further higher towards...
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GBPUSD: Strengthens, Eyes The 1.5195 Level
GBP is now on the offensive having seen a follow through higher on its Thursday strength after its declines halted at the 1.4871 level. With that said, our focus has now shifted to its Mar 0810 high at 1.5195 where a decisive break will resume its corrective recovery initiated from...
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Europeans Make A Move - One Lags Behind
The euro is struggling to push above the 1.3700/50 area, the same place that formed a swing point high over the last three weeks of trading. The euro battles a resistance trend-line that has contained the market since Feb 09. A break above the 1.3700 area will certainly denote a...
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Sideways Calm Before The Commodity Pair Storm
The cad has come to a virtual standstill overnight, moving less than 20 pips. However, later in the day, the pair is expected to pick up major momentum as the Canadian labor market data hits the newswires at 7am EST. Cads daily momentum and trend reads point to investors favoring...
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Technical Analysis Daily: USD/JPY
On Thursday Yen weakened insignificantly against the Dollar on BoJ policy easing speculation. The currency couple rose from 90.22 up to 90.71, although Industry sentiment remained negative at nearly -70%, closing the day at 90.50. On the 3 hour chart the bearish channel remains intact and our anticipations are for...
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Forex Technical Analysis
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
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Daily FX Report
Since the beginning of February, the GBP has been trading along a bearish Fibonacci fan against the NZD. In addition, we can see a resistance level around 2.1935 including a bearish trend channel, both starting at February 23rd. We expect could a continuing bearish trend while we've four resistance levels...
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Europeans Make A Move-One Lags Behind
The euro is struggling to push above the 1.3700/50 area, the same place that formed a swing point high over the last three weeks of trading. The euro battles a resistance trend-line that has contained the market since Feb 09. A break above the 1.3700 area will certainly denote a...
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Sideways Calm Before The Commodity Pair Storm
The aussie entered in a side-ways range over the last three sessions of trade, even though the euro and the pound pushed higher, which would normally empower the aussie to move. On the daily chart, the aussie has formed two doji-star patterns, denoting indecision and possible swing point. The Aud/Usds...
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Today's Market Outlook
EURUSD Fresh strength has emerged from 1.3620 support, clearing 1.3678/1.3703 resistance zone, en-route to 1.3787, possibly to test 1.3798, range upper limit. Break there is required to resume recovery and expose 1.3838, then 1.3886, 09 Feb high / 02 Feb low.
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Currency Crosses Pairs Analysis
EUR/GBP Longer term bias remains neutral to bullish for the pair, closing above both bearish trendlines confirms some upside for the week ahead.
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Technical Analysis Daily: GBP/USD
Pound/Dollar rose on Thursday although Interbank sentiment remained bearish at around -2%. The Cable increased from 1.4947 to 1.5085, closing the day at 1.5060. Today the Cable recovered to above 1.51, confirming the the short term bullish outlook. There are no major economic events today for UK, only the BoE...
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EUR/USD: 1.3735 Importance Resistance
Testing resistance at 1.3735 if the parity is still not broken. This level can not be supported to make the purchase will be in a state still very risky. So as much as possible with our old strategy of high-level sales continue to exceed around 1.3735 level unless the sale...
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Forex Technical Update
The EURUSD bias remains neutral in nearest term and the bearish scenario remains intact. Immediate resistance comes near 1.3705 1.3750 (23.6% retracement). If breaks 1.3750 level then could see further upside corrections till 1.3980 levels. (EURUSD - 1.3692).Neutral.
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Forex Technical Analytics
The pre-planned sales from key resistance range levels have been implemented with attainment of minimal and basic anticipated target. OsMA trend indicator, having marked fall in both party activity, does not clarify the choice of planning priorities for today. Therefore, considering signs of probable rate range movement, as earlier, we...
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Technical Analysis for Major Currencies
The pair stabilized trading above resistance line for the short term descending channel that insures the suggested scenario yesterday. The new ascending channel will organize the current bullish intraday trend, supporting our expectations of a bullish intraday direction; main targets start at 1.3800 1.3835. Keep in mind the importance...
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