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elliottflat correction down 0.8575 there is bearish potential for a fall to 0.8591 while 0.8651 - 0.8669 resist after this fall a recovery up to 0.8669 or 0.8688 is expected
support and resistances
res2 0.8747
res1 0.8689
piovt 0.8651
sup1 0.8591
sup2 0.8555
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I guess the EURO trend is up against the GBP. The Euro zone is getting stronger day by day. I guess there is a lot of tussle is going on in between these two pairs. I nromally don't trade in this pair having the GBP. I wish I could be trading within this pair within the near future.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.
i think eur gbp pair shown a very good sign of uptrend and this pair has small resistance at various values like 0.8035m 0.8060, 0.8080 .. but these resistance are not that strong..and i think the pair has broken the H1 uptrend line and now trying to break the H4 uptrend line, if break, we'd see falling down targeting .8807 and .8764....
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Given a pair EURGBP drop next week to continue but can be corrected up to a level where 0,8607-0,8663 strong levels of them, and still sell at the bottom of the first target at 0.8584 then back slightly by the end of the week waiting for the level 0 , 8541
Last edited by moando; 2013-07-20 at 05:47 PM.
eur/gbp last day market analysis by using : average directional movement index wilder(14) & average directional movement index(14)
adx wilder(14) level
style : 18.44
+di : 17.73
-di : 22.82
adx(14) levels
adx : 16.64
+di : 11.50
-di : 17.83
date : 20.07.2013
timeframe : 1 hour
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elliott flat correction down 0.8575 currect fall is near an end of wave around 0.8591 zone a rally should then procede to above 0.8637 fall below 0.8573 would cancel this scenario
support and resistances
res2 0.8665
res1 0.8637
piovt 0.8619
sup1 0.8591
sup2 0.8573
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