Forexpros Daily Analysis - 25/04/2011

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ForexPros Daily Analysis April 25, 2011


Free webinar on ForexPros - Fibonacci... Easy as ABCD

Expert: Andrei Knight

Start: Tue, Apr 26, 2011, 10:00 EST
End: Tue, Apr 26, 2011, 11:00 EST

Fibonacci need not be difficult! Learn a simple ABCD pattern, which can easily be used to trade news spikes, long-term positions lasting several months, and just about everything in between. Join leading fund manager and trading coach Andrei Knight for this exciting instructional webinar which will transform the way you look at charts and help you achieve better trading results.

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Aud/usd made solid pull-back in recent sessions with a three wave retrace near to 1.0700 region. We must not ignore the larger trend, which is clearly up, so a current decline should be considered as a corrective move, with new highs yet to come. However, a little bit deeper pull-back is still possible, down towards 1.0650/80 region; previous fourth wave area before uptrend resumes.

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Forex Trading analysis written by Gregor Horvat for Forexpros.

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