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Forex4you Technical Analysis 14 February 2011

Discussion in 'Technical Analysis' started by forex4you, Feb 14, 2011.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    GBP/USD: technical analysis

    The price breached support at level 1.6060 and it's currently making attempts to fix below. Level

    1.6060, which has recently become a strong resistance, prevented the trades from rising up. So, the

    price resides at level 1.6015/20 at the moment. And although the "bearish" trend seems to be

    stronger, it's going to be a long way to the final "bearish" victory. Indicators are turned down, but

    the readings are not clear enough – SS still can't manage to break through and enter the oversold

    zone, which means, that there is a risk of growth from the current levels to level 1.6330/20. The

    medium-term growth will come to an end only if the trades hold below the key support at level 1.5750.


    EUR/USD: technical analysis

    Support range 1.3540 – 1.3500 proved its strength - all "bearish" attempts fail, the trading is

    carried out around level 1.3535/40. Indicators are still turned down, giving reasons to expect a

    breakout of a currently tested level. Decline below level 1.3500 with the following fixation will

    indicate the change of sentiment in the market. The final signal for a reversal, however, will be

    support range 1.3450/60 -1.3400 breakout. Nevertheless, until level 1.3530/00 is breached, the price

    can still pull back upwards, again to level 1.3700.


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