Wednesday, May 22, 2013

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Subscribe to this list via RSS Blog posts tagged in retest
Trading stabilized above the resistance for the descending correctional channel shown below
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Recent Comments - Show all comments
  • Giovanni
    Giovanni says #
    eurusd : stochastic show a "TRY" to re take the bulls.. I'm curious to see the future!
  • Giovanni
    Giovanni says #
    numbers never lie.. and you talk with numbers.. that makes me much curious about your analysis.. I'll try to walk your talk..
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The euro succeeded in breaching the critical resistance mentioned yesterday near 1.4440 activating the bullish pattern shown below.
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The Euro found good support at 38.2% Fibonacci at 1.4155 to rebound to the upside supported by the positivity on Stochastic which is starting to gradually decline, reaching overbought areas.
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The Euro approached the first target awaited yesterday around 1.4455 and reversed to the downside after recording the high of 1.4440 affected by the negativity on Stochastic.
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The Euro stabilized above 1.4325, the neckline for the bullish pattern shown below.
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The Euro ended yesterday below 1.4325 areas, which keeps the suggested weekly scenario valid supported by the negativity on Stochastic.
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The upside move stopped at the retest for the breached support at 1.4325 which the MA 50 protected.
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The Euro rebounded from the effect of positivity on Stochastic, which was fully unloaded over four-hour basis.
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The Euro clearly breached 38.2% Fibonacci correction and stabilized below it, signaling further downside movement over intraday basis.
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The euro continued the strong downside move affected by the bearish technical pattern mentioned at 38.2% Fibonacci correction at 1.4155.
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Trades or trade recommendations made on this site have not been made by Georgia Anderson.

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