News from across the continent
Publish Date25/06/2012 11:16:18 AM
The pair rushed steeply to the upside and that confirms the end of the downside correction as we expected, where stability above 0.9600 supports the resumption of the upside move . The Linear Regression Indicators are positive and support the current upside move; stability above 0.9490 is essential for the bullishness to prevail.
The trading range for this week is among key support at 0.9405 and key resistance at 0.9800.
The general trend over short term basis is to the upside targeting 0.9950 as far as areas of 0.8850 remains intact.
|Recommendation||Based on the charts and explanations above, our opinion is buying the pair around 0.9600 targeting 0.9700 then 0.9800 and stop loss below 0.9490 might be appropriate this week|
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