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EUR/USD Technical - 17/Feb
Written by Praful Patat   
Thursday, 17 February 2011 06:10

 

EURUSD is forming channel in range, still in progress, going toward 1.3621 (61.8%) from 1.3742 to 1.3427. break of 1.3442 daily support further going down side to 1.3401 (127.2%),(161.8%) extension from 1.3507 to 1.3860.Break of 1.3621 level further going upside toward 1.3662. In big range from 1.3241 to 1.3860,Fib No. 61.8% at 1.3497 and give buy signal here, but price on uptrend line. Possibility to selling pressure will come from 1.3621, 1.3662 area and break of this flag pattern on 4 hour chart further going next to 1.3742 daily resistance
Strategy: Sell from resistance with stop loss 1.3696
New High:  1.3640, 1.3631.
New Low:  1.3515, 1.3506
R3-1.3665, R2-1.3617, R1-1.3587, PP-1.3539, S1-1.3491, S2-1.3461, S3-1.3413

EURUSD is forming channel in range, still in progress, going toward 1.3621 (61.8%) from 1.3742 to 1.3427. break of 1.3442 daily support further going down side to 1.3401 (127.2%),(161.8%) extension from 1.3507 to 1.3860.Break of 1.3621 level further going upside toward 1.3662. In big range from 1.3241 to 1.3860,Fib No. 61.8% at 1.3497 and give buy signal here, but price on uptrend line. Possibility to selling pressure will come from 1.3621, 1.3662 area and break of this flag pattern on 4 hour chart further going next to 1.3742 daily resistance

Strategy: Sell from resistance with stop loss 1.3696

New High:  1.3640, 1.3631.

New Low:  1.3515, 1.3506

Pivot:

R3-1.3665,

R2-1.3617,

R1-1.3587,

PP-1.3539,

S1-1.3491,

S2-1.3461,

S3-1.3413