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Forexpros.es Analisis Forex - 04/08/2009

Discussion in 'Market Predictions and Reports' started by Forexpros04, Aug 4, 2009.

  1. Forexpros04

    Forexpros04 Forexpros Representative

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    Forexpros.com Daily Analysis - August 4, 2009

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    EUR/USD

    The EUR gained again yesterday exploding above the 1.4350 resistance level from a couple months ago. A retest of this level as well as 1.4300 is highly likely over the next week, but we will need to see how much steam is left on the upside.

    A push above 1.4450 would signal another swing higher and a target of 1.4600.

    Minor support is expected at 1.4320 and 1.4260. Further support is just above 1.4200. 1.4300 is important, and should also be watched, as a sizable penetration back below indicates that the breakout higher was potentially false.

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    USD/JPY

    The USD did recoup some ground against the JPY yesterday, but has been mixed in early trading today.

    Resistance is at 95.50 with a move above likely to target the swing highs at 95.90. Resistance beyond is at 96.10.

    Support is at 95.10, and a break below will target 94.60-94.50.



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