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Forexpros.com Daily Analysis - 10/08/2009

Discussion in 'Market Predictions and Reports' started by Forexpros04, Aug 10, 2009.

  1. Forexpros04

    Forexpros04 Forexpros Representative

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    Forexpros.com Daily Analysis - August 14, 2009

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    The 1-2-3 chart pattern
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    EUR/USD

    Charts are setting up for a continuation of Friday's fall. A drop below 1.4145 will confirm. First target is 1.4100 (also support). Further support is lower at 1.4180-1.4160, and a target beyond at 1.4000.

    A move back above 1.4260 indicates upward strength and further erosion of Friday's fall. Resistance beyond is 1.4340 and 1.4380.

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    USD/JPY

    A drop below 96.85 will signal further declines. First target is 96.40, followed by 96.10-96.00. Support beyond is 95.80.

    A rise above 97.80 indicates another swing higher. Targets are 98.10 and 98.45-98.55.

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    Forex Trading Analysis by: ForexPros.com - Written by Cory Mitchell

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