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Technical Analysis
Daily Technical analysis
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[QUOTE="Martin Kay, post: 48524, member: 25911"] EUR/USD DAILY as of Thursday, 25 July, 2013 Euro Dollar / US Dollar broke above the upside resistance level of 1.28, 11 day(s) ago. This is a bullish sign and 3 day(s) ago Euro Dollar / US Dollar broke above the upside resistance level of 1.32,. This is a bullish sign. This previous resistance level of 1.32 now provide downside support. Prices having only risen 0.11% since the breakout, The most recently confirmed downside support level for Euro Dollar / US Dollar is around 1.28. Expect prices to have some difficulty falling below this level. A break below this level would be a bearish sign. A white body occurred (because prices closed higher than they opened). During the past 10 bars, there have been 5 white candles and 5 black candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles. A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble. The close is currently ABOVE its 200 daily moving average ABOVE its 50 daily moving average ABOVE its 20 daily moving average The current market condition for Euro Dollar / US Dollar is Very Bullish [/QUOTE]
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