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Nov 26
EUR/USD Technical - 25/Feb
Written by Praful Patat   
Friday, 25 February 2011 05:31

EURUSD is forming ABCD pattern still in progress from Fib No 61.8% at 1.3537 from 1.3427 to 1.3715, extension 127.2% at 1.3792, 161.8% at 1.3891. EURUSD is continues going up side toward extension 1.3892 without retracement.  In EURUSD strong support is 1.3792. EURUSD will test daily resistance on intraday and then back from 1.3892, again come down to 1.3750, 1.3644.
In bigger range, the long term up trend is still expected continues toward 1.4127 projection of 1.2873 to 1.3861. There is not signal for reversal before 1.3892.
Strategy: Buy at 1.3820 target 1.3892 stop loss 1.3770 or Sell at 1.3892 target 1.3750 with stop loss 1.3934.
New High:  1.3868, 1.3857.
New Low:  1.3752, 1.3741.
R3-1.3891, R2-1.3846, R1-1.3819, PP-1.3774, S1-1.3729, S2-1.3702, S3-1.3657

EURUSD is forming ABCD pattern still in progress from Fib No 61.8% at 1.3537 from 1.3427 to 1.3715, extension 127.2% at 1.3792, 161.8% at 1.3891. EURUSD is continues going up side toward extension 1.3892 without retracement.  In EURUSD strong support is 1.3792. EURUSD will test daily resistance on intraday and then back from 1.3892, again come down to 1.3750, 1.3644. 

In bigger range, the long term up trend is still expected continues toward 1.4127 projection of 1.2873 to 1.3861. There is not signal for reversal before 1.3892.

Strategy: Buy at 1.3820 target 1.3892 stop loss 1.3770 or Sell at 1.3892 target 1.3750 with stop loss 1.3934.

New High:  1.3868, 1.3857.

New Low:  1.3752, 1.3741.

Pivot:

R3-1.3891,

R2-1.3846,

R1-1.3819,

PP-1.3774,

S1-1.3729,

S2-1.3702,

S3-1.3657