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Forex4you Technical Analysis 10 February 2011

Discussion in 'Forex Daily News & Outlook' started by forex4you, Feb 10, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
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    EUR/USD: structure analysis

    Let's take a look at some corrections of the previous EUR/USD analysis. We can see now, that the structure has changed a little bit, although the target remained almost the same.


    EUR/USD: technical analysis

    EUR/USD has fallen quite dramatically this morning as the corrective rally which has carried the exchange rate up from the lows of the 7th Feb reversed. The rapid decline however steadied at support around the 1.3610 level and is currently pulling back to resistance at 1.3635, and it may even go higher to resistance from a past trendline at 1.3675. After that it will probably test 1.3600 and it needs to decisively break through to set up a more bearish move down to the next important support level at about 1.3530 where the neckline for the large H&S pattern on the 4-hourly chart is situated.


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