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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
break below 4150 would see 4130... could be a good long for 100 pips....
nothing really confirmed it's long.. only my bias remains long until proven otherwise... :)
break of 4000 level.. would see prolonged sideways trading in between 3500~4500 range... imo
but i'll only be convinced once fundamentals and technicals align and point to the same direction... until then i'll stick with my technicals... :)
for me... it's a broad-based dollar weakness rather than Euro strength...
from pure technical point of view... when Euro dipped... should've broken thru the main support @ 1.1638(if broken.. would've signaled top in place)... it didn't.. and started move higher... so upside is still open....
once we take out 1.5140 high ... i'd say new highs above 1.6038... only break below 1,2873 would signal failure to the upside and move below 1.1876...
down the road... could be a story of once a great nation becoming a history... and that history could have started already...
but i'll go there if it is broken... :)
no need to play that kind of guessing game...
as long as USDx is capped below 75.20.... the next big move would be to the downside... with initial target @ 72.30/50 then 70.50/70...
if you're smart enough... you can try to compute that in terms of eur/usd level... :)