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January 16th, 2008 @ 7:53 am by Bogdan Parascanu

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Wednesday’s Jan 14th midday analysis -13.00 GMT

EurUsd retraced in the Asian session to the 50% Fibonacci line of yesterday’s down move and finding resistance at the 1.4850 area resumed the move down breaking below 1.4800. Without any surprises as we’ve had recently the pair should continue toward the 1.4700 target zone.


GbpUsd covered over 120 points so far today but failed to move decisively under yesterday’s low at 1.9550; until we see this happening the pair will maintain trading inside the current range between the 1.9550 support and below 1.9670 resistance.


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January 7th, 2008 @ 7:53 am by Bogdan Parascanu

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Monday’s Jan 7th midday analysis -13.00 GMT

Euro continued the down move started on Friday afternoon and opened the week moving lower, breaking the 1.4700 support level after a second try late in the Asian session. The pair found support around the 1.4660 area and is now retesting, the former support now turned into resistance, just above the 1.4700 round number. We maintain the bearish view on this pair as as long as the resistance level hold the downside pressure will push the quote lower towards today’s lows.


GbpUsd moved below the 1.9700 level early in the day but bounced right back above towards the 1.9750 level which is Friday’s middle range. We saw a lower low being formed today that supports our bearish sentiment and without any unexpected events later in the day the pair has a fair chance of testing the lows at 1.9650.


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November 29th, 2007 @ 7:50 am by Bogdan Parascanu

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Thursday’s Nov 29th midday analysis -13.00 GMT

After bouncing from just above the 1.4700 area yesterday the pair found a high at the 23.6 Fib retracement line and started again to move lower, as we can see in the chart below EuruSd is once again closing in on the 1.4700 support and although the 1hr oscillators look oversold we are bearish on this pair and expect a break below support.


GbpUsd failed to reach it’s target on the break south of yesterday’s triangle formation and instead it printed a new high at 2.0830; after that we witnessed a sharp fall towards yesterday’s lows a level at which we are trading right now; so far the 2.0600 support line is holding the pair above it but the downside pressure will probably push it through towards the 2.0500 target area.


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November 26th, 2007 @ 7:00 am by Bogdan Parascanu

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Monday’s Nov 26th midday analysis -12.00 GMT

EurUsd found intraday support at the 1.4800 level and it bounced from that to the 50.0 Fib retracement line of Friday’s move, trading between these two important support and resistance levels the pair has showed us once again that Monday’s are usually slow and volatility is down. We saw a higher low being formed in the Asian session and this is inline with our overall bullish sentiment, as long as the pair trades above 1.4800 we can expect a higher high in the next days.


GbpUsd continued the move started in Friday’s afternoon but so far has traded inside that range finding resistance around the 2.0700. The pair has reached a consolidation period and has traded between 2.0500 and 2.0700 for a few days; while trading at the high of this range and entering in an overbought status on the hourly timeframes downside pressure might have an effect in the US session.


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November 20th, 2007 @ 8:25 am by Bogdan Parascanu

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Tuesday Nov 20th midday analysis -13.30 GMT

EurUsd moved higher from that trading range we’ve seen for the last few days, and once it broke the 1.4700/1.4735 resistance area it headed straight for the 1.4800 level. The projected bullish target on this move is at the 161.8 Fib line around the 1.4900 level; on the south side closest support is the confluence of former resistance area 1.4700/1.4735 which is also close to the 61.8 and 50.0 Fib retracement of the 1.4635-1.4800 leg up.


GbpUsd followed in Euro’s footsteps and gained more than 200 points until it found resistance at the 2.0650 level, since than it retraced to the 61.8 Fib line just under the 2.0600 round number and it’s once again heading higher, we have a calculated target at 2.0796.


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November 19th, 2007 @ 8:23 am by Bogdan Parascanu

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Welcome to Monday Nov 19th midday analysis -13.30 GMT

EurUsd continued to trade below the 1.4700 resistance area today, and it found support at Friday’s mid range level of 1.4625; after that the pair started to move higher and it is doing so at the moment just before the US markets open. We expect the pair to retest today’s high and perhaps make a new high in today’s US session.


GbpUsd acted very similar to the Euro, and moved lower for the first part of the day and found support at the 50.0 Fib Line of Friday’s up move and after that the pair recovered and starte dtrading above 2.0500. Getting above the trendline connecting the asian session highs will give a more bullish signal.


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November 16th, 2007 @ 8:30 am by Bogdan Parascanu

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Welcome to Friday Nov 16th midday analysis -13.30 GMT

Euro continued to trade between 1.4600 and 1.4700, and made a new low today just below yesterday’s but the pair bounced back up towards 1.4650. We can see in the chart below it has found support at a trendline conecting lower lows and found resistance also at a trendline, but a trendline that is connecting lower highs; until we break out of this pattern to the upside EurUsd is still biased short.


Cable slowed down today, it covered only about 120 points in the Asian and Uk session and found support at the 2.0365 September 12th swing high. As we can see on the 1hour chart below GbpUsd retested today’s high at 2.0480 and is now trading just below the 2.0450 where we saw a consolidation period forming in Thursday afternoon. Same as the Euro the short term bias is still bearish and we could see a second move towards 2.0365 in the afternoon.


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November 14th, 2007 @ 7:48 am by Bogdan Parascanu

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Welcome to Thursday Nov 14th midday analysis -12.45 GMT

Euro moved higher and reached our projected target we mentioned in yesterday’s midday analysis of 1.4686. The pair traded in a small range just before the UK open and, after a retest of yesterday’s high of 1.4635 and an up sloping trendline it surged towards the 1.4700 level but so far it failed to stay above that. On the 1 hour time frame, we can see that a divergence has formed and while we are trading below 1.4700 it can shift today’s bias to the short side.


GbpUsd retraced a bit in yesterday’s US session but reversed and continued higher until it touched the 50.0 Fib Line of the 2.1140/2.0525 down move. The touch of the 50.0 Fib at 2.0840 also coincided with a fundamental news release from the BOE and that resulted in a sharp fall on GbpUsd, the pair losing almost 200 points in 1 hour and only stopped at 2.0640 which was the middle of Tuesday’s range.


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