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Forex4you Technical Analysis 10 May 2011

Discussion in 'Technical Analysis' started by forex4you, May 10, 2011.

  1. forex4you

    forex4you New Member

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    EUR/USD: technical analysis
    The EUR/USD fell to 1.4260 lows yesterday but has since begun consolidating in a range. The emphasis is still bearish and the larger 0.005x3 chart has met its upside targets indicating possible exhaustion. Shorter term, however, there are no clear vertical downside targets on the 0.001x3 chart, although a horizontal count yields a bearish target of 1.4170. The smallest box size chart, the 0.0005x3 conversely has an upside target of 1.4450. It may be that some upside will be followed by another down move to the 1.41s although the conflicting signals make it difficult to forecast.

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    Forex | Foreign Exchange
    Analysis by: Joaquin Monfort
    Forex4you analyst

    Disclaimer: Trading Futures and Options on Futures and Cash Forex transactions involves substantial risk of loss and may not be suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.
     
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