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Technical Analysis
UMOFX Daily Technical Analysis
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[QUOTE="AsiaDev, post: 44599, member: 22641"] [B]EUR/USD D1[/B] EUR/USD is trading in a range of 1.3145 to 1.3050 level. Bollinger bands are showing neutral signals. But EUR/USD is expected to remain bearish under 1.3145 level. There can be two scenario. First, To buy EUR/USD if pair break 1.3145 level and H4 candle close above this level. Secondly, on the break of 1.3050 level we can sell EUR and take profit at 1.3000 level. [IMG]http://charts.mql5.com/1/499/eurusd-d1-iko-forex-limited.png[/IMG] [B]GBP/USD D1[/B] Yesterday cable break its support and dropped around 55 pips. Now pair is likely to continue its bearish trend towards 1.5400 level. Price action on this level should be carefully observed. If GBP/USD manage to break this level and D1 closure below 1.5400 level then it will indicate strong bearish strength for GBP and cable will then start falling towards southward. The scenario will be vanished. If GBP/USD got bullish and closure H4 above 1.5520 will take pair upward and target 1.5600-611 level. [IMG]http://charts.mql5.com/1/499/gbpusd-d1-iko-forex-limited.png[/IMG] [B]AUD/USD D1[/B] Aussies manage to hold its support level 1.0145 level yesterday. Now pair is expected to move towards northward, if 1.0145 level is not broken. Bollinger bands are not providing clear signals due to oversold of AUD/USD. Price action on 1.0145 level should be watch. If pair manage to hold this level then Aussies will start moving towards north. On the contrary, break through support level and H4 closure below 1.0145 level will indicate pair is under pressure and Aussies will then continue its bearish trend which starts from 1.0580 level. High impact News can affect the trend of AUD/USD. News like Employment Change, Unemployment Rate. [IMG]http://charts.mql5.com/1/499/audusd-d1-iko-forex-limited.png[/IMG] [B]USD/CAD D1[/B] USD/CAD is in oversold zone, pair can get a rebounce from this zone. D1 and H4 chart are showing group of buyers in 1.000-50 level and a trend line is also held. So price action on 1.0000 level is important to watch. If USD/CAD hold this level and give a day closure above 1.000 then pair will start moving upward. On the other hand, If pair break its support level and D1 closure below 1.0000 level then it will open gates towards south. [IMG]http://charts.mql5.com/1/499/usdcad-d1-iko-forex-limited.png[/IMG] [B]08 May 2013[/B] [B]Source[/B]: [B]UMOFX One Stop Market Centre | [COLOR="#0000FF"]FSP Regulated[/COLOR] | [COLOR="#FF0000"]NDD Broker[/COLOR][/B] [/QUOTE]
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