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December 21st, 2007 @ 7:36 am by Bogdan Parascanu

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Thursday’s Dec 20th midday analysis -13.00 GMT

EurUsd failling to print a new low in yesterday’s US session gave bulls enough reason to push the pair higher and so it touched the 1.4400 intraday resistance and after that we saw a small retracement towards the 50.0 Fibonacci of yesterday’s trading renage. We may a second attempt at the 1.4400 level in today’s remaining trading hours.


GbpUsd traded inside Thursday’s range, and after it didn’t manage to break a new low we are trading just under the 1.9900 resistance and chances are the pair will head higher in the US session.


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December 19th, 2007 @ 7:50 am by Bogdan Parascanu

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Wednesday’s Dec 19th midday analysis -13.00 GMT

EurUsd has entered into the 3rd consecutive tight range day, it covered today only 50 pips with the mention that it broke under the trendline connecting monday and tuesday’s lows and has already retested the trendline now turned into resistance and one could expect a move lower later on in the US session.


GbpUsd broke lower today when the BOE minutes got out, and before that the pair surged higher and tested the 2.0180 intraday resistance. Today’s low at 2.0030 is just pips away from the Fibonacci Expansion target we mentioned a while back and we are looking to get closer to the 2.00 area in the following hours.


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November 9th, 2007 @ 7:37 am by Bogdan Parascanu

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Hello traders, this is the 12.30 GMT intraday technical view

EurUsd continued to make higher high and higher lows for the most part of Thursday’s session and in today’s trading hours until rumors started about bank losses in Uk that triggered a change of focus towards the US dollar, although the pair lost the points gained previously in the Asian and European trading hours it has found support close to the 61.8 Fib Line of the last move up and from there it started to slowly move higher trying to get back above 1.4700.


GbpUsd failed to reach our projected target of 2.1185 and although it made higher highs and higher lows on the 1hr timeframe, as seen in the chart below, the bulls lost some of their strength. When the Uk bank rumors got out cable lost more than 100 points in a matter of minutes and only stopped just below the 2.1000 support level. At the moment in the market there is increased volatility and we advise caution until the rumors either get confirmed of proved to be just that, rumors.


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November 8th, 2007 @ 8:05 am by Bogdan Parascanu

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Hello traders, this is the 13.00 GMT intraday technical view

EurUsd reached it’s projected target in Wednesday’s session calculated using Fibonacci Expansion at 1.4729, after that it lacked enough strength to stay above 1.4700, it retraced to around the 0.50 Fib level and has traded around that level in a 50-60 points range until now. The pair is trying to figure out a direction for the rest of the session but the bullish should prevail, as the market conditions haven’t changed while the ECB decided to hold rates.


GbpUsd traded around the 2.1000 level for most of the Asian and Uk session and only prior to the BOE rate announcement it started to move higher and after another retest of the 2.1000 support level minutes before the announcement it pushed higher and printed a new high at 2.1085. As seen on the chart below,on the 1hr timeframe the pair formed a bullish flag formation that has a target calculated with Fibbonacci Expansion at 2.1185.


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November 6th, 2007 @ 7:26 am by Bogdan Parascanu

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EurUsd formed a triangle on the 1hr timeframe on Monday afternoon(see chart below) and it broke out of that triangle with fury in the Asian session, the momentum pushed the pair towards the yearly high at 1.4530. In the most part of the UK session the pair traded just below the high in a small consolidation range and right as we write this intraday commentary EurUsd printed a new record high at 1.4555 and bullish momentum keeps building up.


Cable found support around the 2.0800 area yesterday, and it moved higher in the Asian session until it found resistance at a down sloping trendline. Looking at the 1hr timeframe the pair seems to be forming a triangle as it has already touched the resistance trendline two times and is now slipping lower. Usually this triangle pattern is a continuation pattern and considering the overall bullish sentiment, a breakout above the 2.0880 will be a clear sign that the up trend is still valid.


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