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Publish Date25/06/2012 11:21:52 AM
Last Update25/06/2012 11:22:10 AM
The pair rushed to the upside once again affected by the Linear Regression Indicator 34, and we can also see Stochastic is more positive while RSI is trending higher above 50 points. Those signals support the resumption of the upside move as far as areas of 1.0200 remain intact.
The trading range for this week is among key support at 0.9970 and key resistance at 1.0475.
The short term trend is expected to the downside with daily closing below 1.0520 targeting areas of 0.9870.
|Recommendation||Based on the charts and explanations above, our opinion is buying the pair around 1.0290 targeting 1.0375 then 1.0440 and stop loss below 1.0200 might be appropriate this week|
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