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Technical Analysis
EUR/USD
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[QUOTE="ddukic, post: 33886, member: 17645"] [b]EUR/USD 03/10/2012 - Daily, 4h and 1h Chart Analysis[/b] EUR/USD 03/10/2012 - Daily, 4h and 1h Chart Analysis [IMG]http://fxlisting.net/images/eurusd240-03102012.jpg[/IMG] EUR/USD 4 HOURS CHART SUGGESTIONS: For the last 48 hours of trading the parity is side stepping compressed between two strong levels. I don’t suggest opening new positions using the 4 hours time chart. It does not give you any sign that will allow you to open positions with small stop loss cost. The levels of stop loss both for Long and Short positions are far away from the present parity’s level. Nevertheless, please study this chart for using it as guide for positions opened based on the 1 hour chart. EUR/USD 60 MIN [IMG]http://fxlisting.net/images/eurusd60-03102012.jpg[/IMG] SUGGESTIONS: Today, I will not add any comments. As a matter of fact, I will continue only with the Suggestions because what interests you at the end of the day is to know the trading strategy to apply. Let us start. Any opened long positions from lower levels (example: the two previous lows) will continue running. Stop loss the level immediately below the crossing of the two SMAs. New Short positions. You can open short positions with stop loss the recent local high pivot at 1,2960. New Long positions may be opened provided the parity does not go below the crossing of the two SMAs. EUR/USD DAILY CHART [IMG]http://fxlisting.net/images/eurusdD-03102012.jpg[/IMG] SUGGESTIONS: As you can see we are still above the 200SMA level nicely supported and protected. With this chart you may have a more complete picture of the EUR/USD parity. To see successful Short positions you must observe the parity below the level of the 200SMA. Otherwise, the more we stay above it, the more a consolidation is created that may push the parity upwards. In this chart the environment is clearly indicating Long direction. [/QUOTE]
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