EURGBP

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Prices at the edges in anticipation

Prices at the edges in anticipation

I scanned through the market and see that prices are now either at long term support or long term resistance. This is a typical pattern while waiting for big news to come. Here are the levels: US Dollar Index: 100.49-99.38, 99.38-97.69, 97.69-96.12 EURUSD: 1.1183-1.0890, 1.0890-1.0618, 1.0618-1.0094 EURGBP: 0.7166-0.6986 EURAUD: 1.6023-1.4855 USDCHF: 1.0163-0.9826, 0.9826-0.9550    …

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EURGBP hitting target as plan.

EURGBP hitting target as plan.

There was a small window of opportunity to buy the EURGBP yesterday. A trade was called to buy the EURGBP at market and at 0.7223 and 0.7213. The lower order was not filled. The blue lines above show where the trades were taken and exited at profit. From the chart, you could see clearly that…

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What to look out in Forex going next

What to look out in Forex going next

There would be a few news which we should look at coming weeks.  At the top of the agenda would definitely be about how strong the deflationary forces of world economic super powers. Second is the Fed rate rise timing or Fed policy, Greece’s proposal and finally the Central Banks Easing Policy. Deflationary forces: The…

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Prices trading at support and resistance…

[ads]GBPUSD managed to close above 1.7043. If you had bought it, do take some profit off the table. From the monthly chart, the next target is 1.7491. Shift remainder trades to 1 pip above entry. EURUSD, price showed bearishness at 1.3689. You would have shorted on July 3rd and targeted the 21sma which was achieved…

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Weekly Forex Market Price Action Outlook – 30th June – 4th July 2014

Trade Ideas: [ads] GBPUSD – Price still undecided on the direction which it wants to go. Resistance of 1.7043 has been tested 4 times this month but prices fail to close above. Recent price action suggests we might just see the price close above move next week. However do wait for the confirmation and not…

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EURGBP 22.02.2013 Outlook

EURGBP 22.02.2013 Outlook

In the Eurozone, business confidence somewhat deteriorated in the month of February. It was reported in FXStreet: The Composite  PMI for activity, a good leading indicator of GDP growth, lost 1.3 point  in February, declining to 47.3. Flash releases suggest that confidence  deteriorated in the two largest economies of the area. Nevertheless,  economic conditions are…

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