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bank

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Looks like a new test of low

 

Price has now broken through down the 1.3160 level. I am expecting price to retrace back up towards the 1.3160 level to retest this, with a rejection and a subsequent test of 1.30

 

http://img838.imageshack.us/img838/9472/eurusdm.gif

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EUR/USD is heading down towards the 1.31 level. It looks very bearish at the moment but the stochastics are telling us it is very oversold. Expect bearish price action but be aware that there could be a fast and sudden retracement, especially off the 1.30 level.

 

http://img12.imageshack.us/img12/4149/eurusdv.gif

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I'm decidely bullish on the EUR/USD long term. I know all the focus is on Brussels and the new government in spain, but long term, it just isn't looking great for the USA. It's been said today that even more money QE3 could be printed in April!! This infographic says it all really, the U.S. is in deeper than they can get out (http://www.zerohedge.com/news/yet-another-us-debt-infographic, http://www.fxfatcat.com). It's funny, I read an article today that highschool students in the USA are being taught about the US debt: Look what their parents have left them with...

 

The chart below is clear bullish bounce off the 1.31 support.

 

http://img864.imageshack.us/img864/7070/eurusde.gif

Edited by bank
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  • 3 weeks later...

Analysis of Majors

 

1.3150 seems to be the resistence level which needs to be broken in the EUR/USD. Until that level is broken and closed above on the daily, I'm still bearish with an expected retest of 1.30.

 

What do you think?

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The EURUSD has enterted into an asymmetrical triangle. This should, technically give a direction for future price depending on what side of the triangle price breaks out from.

 

http://img14.imageshack.us/img14/8263/eurusdx.gif

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My take profit at 1.27 was hit. I am going to go short at 1.27, with a take profit at the bottom of the triangle, the support should be around 1.26 or so, depending on when price gets down there.

 

See my chart, this is what I'm looking at.

 

http://img62.imageshack.us/img62/6753/eurusdacc.gif

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I hear there are a bunch of sell orders at 1.30, however, I have heard that there are a lot more buy orders than the sell orders, therefore we should work ourselves up through 1.30 (Source:
http://www.fxfatcat.com

). Target 1.31, that's mine anyway.

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