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View Poll Results: What does January holds for EURUSD having continued to hold its medium term downtrend
Weakness 2 50.00%
Correction 2 50.00%
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Old Jan 18, 2012, 1:48am   #1
 
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FXTechstrategy Team: Forex Analysis

What does January 2012 holds for EURUSD having continued to maintain its medium term downtrend?
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Old Jan 18, 2012, 8:49pm   #2
 
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re: FXTechstrategy Team: Forex Analysis

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What does January 2012 holds for EURUSD having continued to maintain its medium term downtrend?

have a look at this Trades, Ideas, Discussion: Today's No Brainer - EURUSD bounce!
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Old Jan 18, 2012, 9:15pm   #3
 
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USDCHF: Susceptible To The Downside On Price Failure.

FXTechstrategy Team started this thread USDCHF: The pair is now on a second day of downside weakness after it backed off higher prices on Tuesday. Despite this, USDCHF remains biased to the upside in the medium term. While the pair holds above its key support at the 0.9240 level, its Dec 21’2011 low, we look for it to return to the 0.9548/91 levels. An eventual clearance of that zone will resume its medium term uptrend and aim at the 0.9772 level, its Feb 11’2011 high with a violation of there allowing the pair to aim at the 0.9913 level, its Dec 07’2010 high. Further out, its psycho level at 1.0000 level will come in as the next upside target. Alternatively, support lies at 0.9301 level followed by the 0.9240 level, its Dec 21’2011 low where a breach if seen will push the pair further lower towards the 0.9175 level, its Dec 08’2011 low. A halt is likely to occur here and turn the pair back up but if that level breaks, lower level prices could shape up towards the 0.9063 level, its Nov 30’2011 low. All in all, the pair remains biased to the upside medium term though presently facing bear threats.
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Old Jan 18, 2012, 10:37pm   #4
 
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re: FXTechstrategy Team: Forex Analysis

Weekly chart is of interest
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Old Jan 18, 2012, 11:03pm   #5
 
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re: FXTechstrategy Team: Forex Analysis

FXTechstrategy Team started this thread Hi,

You are absolutely right. We are seeing a second day of upside momentum suggesting a correction has been triggered. We may see the 1.2875 and the 1.3074 levels on more corrective.
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Old Jan 19, 2012, 11:05am   #6
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Going by the last four hours, I think a lot of short covering is starting to happen.
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Old Jan 19, 2012, 1:06pm   #7
 
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Daily Technical Strategist: EURUSD

FXTechstrategy Team started this thread EURUSD: Strengthens, Maintains Nearer Term Recovery Tone.

EURUSD: The pair has turned above the 1.2875 level, its Jan 13’2011 high suggesting further correction could extend.In such a case, the 1.2941 level, its Jan 05’2012 high will be targeted where we may see a price halt. However, if that level is broken, more strength is expected towards the 1.3074 level and next the 1.3197 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, on a failure of its present corrective recovery, EUR could restart its broader medium term downtrend by breaking the 1.2624 level. This will set the stage for further declines towards the 1.2587 level, its Aug 2010 low. Further down, support stands at the 1.2479 level. All in all, EUR now faces a nearer term corrective recovery following it’s a halt of its recent declines.
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Old Jan 20, 2012, 12:12am   #8
 
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Special Focus: EURUSD

FXTechstrategy Team started this thread GBPUSD: The pair extended its corrective recovery offensive today, rallying strongly on the back of its Wednesday strength and opening the door for further upside.This development now leaves GBP targeting its .382 Fib Ret (1.6161-1.5235 declines) at 1.5582 where a break will set the stage for further recovery towards the 1.5666 level, its Jan 03’2012 high. Further out, resistance lies at the 1.5691 level, its .50 Fib Ret. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, the threat to our upside view will be a return to the 1.5270 level, its Oct 2011 low and the 1.5235 level, its Jan 2012 low. A break of the latter will aim at its .618 Fib Ret (1.4229-1.6736 rally) at 1.5187. Further down, its big psycho level at 1.5000 comes in as the next downside target. On the whole, GBP continues to correct higher suggesting further price extension towards the 1.5582 level.
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