Weekly Technical Stategist 05 10 095 09

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Information about Weekly Technical Stategist 05 10 095 09
Finance

Published on October 9, 2009

Author: fxtechstrategy

Source: slideshare.net

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EURUSD: Evening Star Candle Set To Trigger Further Correction

EURUSD- EUR put in a weekly lower close and printed an evening star candle formation(top reversal signal) to close at 1.4481 at the end of the week. Though still retaining its bullish medium term structure, the formation of this pattern on the back of its previous week failure at the 1.4844 level has now posed a threat of further downside

Monday, 05th of Oct, 2009 WEEKLY TECHNICAL STRATEGIST In This Issue: EURUSD: Evening Star Candle Set To Trigger Further Correction - EUR put in a weekly lower close and printed an evening star candle formation(top reversal signal) to close at 1.4481 at the end ... Learn more GBPUSD: Backs Off Key Support, Looks To Recover Higher - The pair halted its declines initiated from the 1.7041 level the past week reversing higher after testing its key support located at the 1.5770 level … Learn more To read the full version of this 7 model currency analysis with 3 bonus technical reports pls subscribe through either PayPal Or Credit Card here FXT Technical Strategist Plus     Mohammed Isah Technical Strategist [email_address] www.FXTechstrategy.com Providing Balanced Independent Research Click here for full disclaimer

Monday, 28th of Sept, 2009 WEEKL TECHNICAL STRATEGIST EURUSD EURUSD: Evening Star Candle Set To Trigger Further Correction EURUSD- EUR put in a weekly lower close and printed an evening star candle formation(top reversal signal) to close at 1.4481 at the end of the week. Though still retaining its bullish medium term structure, the formation of this pattern on the back of its previous week failure at the 1.4844 level has now posed a threat of further downside with its MT rising trendline currently at 1.4424/ the 1.4446 level, its Aug 09 high being aimed at. A combination of these two levels should provide support thereby turning the pair higher again. A setback below there if it materialize will turn focus to the 1.4176 level where its Sept 01’09 low is located. Its weekly RSI now turning lower is supportive of this view. However, on a build on its Friday recovery high, EUR should head towards the 1.4711 level, its Sept 28’09 high followed by its YTD high at 1.4844. Above the latter will resume the pair’s medium term uptrend and put it on the path to further upside gains towards the 1.4875 level, representing its Sept 21’09 high ahead of the its psycho level at 1.5000 and then the 1.5082 level, its Aug 10’08 high. Overall, retaining its bullish medium term outlook, EUR is faced with downside pressure having lost momentum at the 1.4844 level. To read the full version of this 7 model currency analysis with 3 bonus technical reports pls subscribe through either PayPal Or Credit Card here FXT Technical Strategist Plus Mohammed Isah Technical Strategist [email_address] www.FXTechstrategy.com Providing Balanced Independent Research

Monday, 28th of Sept, 2009 WEEKLK TECHNICAL STRATEGIST GBPUSD GBPUSD: Backs Off Key Support, Looks To Recover Higher. GBPUSD- The pair halted its declines initiated from the 1.7041 level the past week reversing higher after testing its key support located at the 1.5770 level. With that accomplished, a build up on that recovery is now expected the coming week with resistance standing at the 1.6225 level, its weekly 50 ema. Invalidating that level will open the door for more upside gains targeting the 1.6466 level, Sept 23’09 high and the back of its eroded MT trendline. That zone should reverse roles as support and turn the pair back down allowing for further downside weakness. However, if it is taken out GBP should focus on higher prices towards the 1.6740 level, its Sept 11’09 high. On the downside, reversing its present recovery will mean a return to the 1.5770 level with an eventual loss of there driving the pair further to the downside aiming at the 1.5287 level which marks its .50 Ret(1.3501-1.7041 rally). It psycho level sited at the 1.5000 will be targeted on a break below the latter. On the whole, GBP though backing lower level prices remains vulnerable to the downside nearer term. To read the full version of this 7 model currency analysis with 3 bonus technical reports pls subscribe through either PayPal Or Credit Card here FXT Technical Strategist Plus Mohammed Isah Technical Strategist [email_address] www.FXTechstrategy.com Providing Balanced Independent Research

All charts courtesy of www.ProRealTime.com. FXTechstrategy recommends ProRealTime charts. This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report. Click here for full disclaimer

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