Thursday, May 10, 2012

Forex pairs to Observe--+Chart


This pair had a strong rally north this week when the bulls decided to bounce of support levels. At the moment this pair managed to reach the top of the channel and is pushing up against strong resistance levels, which are around 1.0029. If resistance levels hold, look for a trend line break and a u-turn towards the south, if the bears do manage to take over this pair they’ll be after the bottom of the channel around 0.9883. If resistance levels don’t hold, expect further moves north towards the fib target of 1.0150.  

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