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Forexpros Daily Analysis - 17/02/2011

Discussion in 'Market Predictions and Reports' started by Forexpros2, Feb 17, 2011.

  1. Forexpros2

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    ForexPros Daily Analysis February 17, 2011


    Free webinar on ForexPros - Forex Fundamentals

    Expert: Curt Wehrley

    Start: Mon, Feb 21, 2011, 09:00 ET
    End: Mon, Feb 21, 2011, 10:00 ET

    A review of the top fundamental news events over the prior month, and a look ahead at the news that could influence the foreign exchange market over the coming weeks.


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    EURUSD:

    The scenario remains bearish, as we saw yesterday, in the medium term on this cross. However we can have an Intraday rally that can take the prices near 1.3700 (see image).

    USDJPY:

    The weakness that we saw yesterday took place during the night. We will take a short position on the USDJPY if the price will move upwards in the short term as you can see in the image.

    GBPUSD:

    As seen yesterday, the 1.60 support level stopped the price action once more, and the GBPUSD jumped up.

    Put your stop loss at the same level of the entry point, in order to protect your position, and close half of the position to protect your gain.
    Let the other half run, the target is a new price high.

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    Forex Trading analysis written by Luca Discacciati for Forexpros.

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