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Daily Technical Stategist EURUSD 24 11 11 

EURUSD: With EUR taking back its corrective recovery gains and selling off strongly during Wednesday trading session, risk of further downside weakness is likely to continue.

 

 
 
Tags:  forex research  forex technical analysis  forex technical research  fx news  technical analysis  commodity outlook  currency pairs  trading strategies  technical strategist 
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Published:  November 24, 2011
 
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Special Focus AUDUSD 12 03 11

Special Focus AUDUSD 12 03 11

From: FXTechstrategy
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Slide 1: Thursday, 24th of Nov, 2011 DAILY TECHNICAL STRATEGIST EURUSD FXTechstrategy Team info@fxtechstrategy.com EURUSD: Reverses Corrective Gains, Return To Key Support At 1.3144 Level Looms EURUSD: With EUR taking back its corrective recovery gains and selling off strongly during Wednesday trading session, risk of further downside weakness is likely to continue. This will leave the pair vulnerable to the downside towards the 1.3242 level, its Oct 06’2011 low and then the 1.3144 level, its Oct’2011 low. It present weakness is coming on the heels of a break of the 1.3419 level, its Nov 17’2011 low and its Oct 10’2011 low at 1.3377. A loss of the 1.3144 level will resume the pair’s medium term downtrend toward its big support standing at its psycho level at 1.3000. Its daily RSI is bearish and pointing lower suggesting further weakness. Alternatively, on any recovery, the pair will to break the 1.3419 level, its Nov 17’2011 low and then take out the 1.3611 level to halt its present weakness. This will clear the way for further strength towards the 1.3866 level, its Nov 04’2011 high and subsequently the 1.4241 level, its Oct 27’2011 high. All in all, with its short term downtrend remaining intact, EUR looks to weaken further possibly towards the 1.3144 level. To read the full version of this 7 model currency analysis click here FXT Technical Strategist Plus 1 www.FXTechstrategy.com Providing Balanced Independent Research
Slide 2: 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 2

   
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