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Forexpros.com Daily Analysis - 25/08/2009

Discussion in 'Market Predictions and Reports' started by Forexpros04, Aug 25, 2009.

  1. Forexpros04

    Forexpros04 Forexpros Representative

    Jan 27, 2009
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    Forexpros Daily Analysis Aug 25, 2009

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    Euro Dollar

    Support is currently at a 1.4280 and a break below is expected to target 1.4200. The target, and support, beyond is at 1.4170.

    Short-term trend line resistance is at 1.4320. A break above indicates a move to 1.4400 with interim resistance at 1.4340-1.4350 and 1.4375.


    USD/JPY - Early Sell Off

    The pair is falling in early trading. The general trend is still down.

    Support is likely to come from former trend lines, one providing support in the 93.70 region and the other at 93.30 (these will move lower slightly over the course of the day). 93.40 is also support.

    94.25 is minor resistance on the upside, followed by 94.40, 94.60, 94.80 and 95.00. Another trend line comes into play between 94.80 and 94.60 as well providing resistance.


    Forex trading analysis by Forexpros - Written by Cory Mitchell


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