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Dear traders,

Forex4you is glad to start publishing tips and analyses from staff analysts here!

Market overview - 15/20/2010


USD

The dollar continued to fall on Fed stimulus fears, whilst rising unemployment and falling exports did nothing to dispel them. At the end of trading on Thursday the greenback traded at 1.4083 to the euro and 1.6009 to the pound.

EUR

The euro rallied after positive commentary from ECB officials lifted the outlook for the euro-zone and indicated a possible tightening of monetary policy. The common currency ended the day at 0.8795 to the pound and 114.74 to the yen.

GBP

The pound traded mixed after dovish comments from BOE’s Adam Posen hinted at the likelihood of further quantitative easing. At the end of Thursday the pound traded at 1.6009 to the dollar and 130.42 to the yen.

JPY

The yen traded mixed after dropping to as low as 81.19 as the pressure on government to intervene steadily increased. At the end of the day the yen was trading at 81.48 to the dollar and 114.74 to the euro.
 
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usaha baik dari forex4 u..cun...
 
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EUR/USD - 15 October 2010

EUR/USD analysis for the 15th October 2010



EUR/USD has fallen to support at 1.4080 and from here it should consolidate. After that, the last wave up – if my count is correct – should take us up to the point of trend-line convergence at 1.4145, which also happens to be where leg ‘A’ and leg ‘C’ of the June rise are equal, on log scale. From those highs a major reversal is possible which could take the exchange rate back below 1.4000.

Analysis prepared by:
Joaquin Monfort
Forex4you analyst
 
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EUR/USD & EUR/JPY - 18 October 2010

Hello!

EUR/ASD analysis for today - 18th of October, 2010

The exchange rate has fallen quite sharply off the 1.4159 highs. Its fall has now temporarily stalled at the top of the upper channel line up from the June lows. There will now probably be a rebound back up, initially to 1.3960 and perhaps even the resistance line at 1.4005. Given the sharpness of the present decline I do not think it is over yet and once price hits support it should roll over again and continue down but this also depends on the strength of the bounce. If it fails to bounce at all then it may fall through current support and simply continue down, with an initial target at 1.3705 and then 1.3635 perhaps.



And now EUR/JPY for 18th of October:

The exchange rate has rolled over from its highs at 114.70 and has started quite a strong wave down which I would expect to continue lower. The Average True Range is also low and this is often the case before strong bearish moves. The initial wave down has now reached support at the trend-line of the whole rally up from the August lows. This is quite a strong level of support and from here I see the pair rising again in a correction. The rise has already begun and initially I see it reaching resistance at an old down-sloping trend-line at 113.30. Then there is a possibility it could rally further up to 113.80. Alternatively it could begin a new wave down from 113.30. Whenever it starts moving down again the next target will probably be the monthly pivot at 111.29.



Stay tuned!
 
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EUR/USD - 20th October 2010

Technical analysis for EUR/USD pair from Forex4you - 20th October 2010

This pair is correcting the decline from the October 15 highs. The decline is a textbook zig-zag with the first leg almost equal to the second leg. The bounce from the end of the second leg probably has higher to go before it is likely that the trend down resumes. It may even reach the line of resistance at 1.3850 before dipping. If on the other hand there is sudden break lower first then I would eye a return to the 1.3700 lows or possibly even 1.3675.



Good luck and have a great trading day today!
 
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