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  • EUR/USD – Bullish Continuation Versus Head and Shoulder Scenarios

    From fxtimes.com

    Read Full Story at fxtimes.com

    As the EUR/USD rebounded from 1.2974, it faced a cluster of resistance on Friday. These included the 200 hour simple moving average, a counter-trend trendline, 61.8% retracement (1.3188) of 1.3320-1.2974, which was also a previous resistance pivot on 2/15 . As the trading week of 2/19-2/24 starts, the EUR/USD pushes higher, breaking above the cluster of resistance factors. The RSI also kissed 70 showing bullish momentum. This should open up the bullish continuation scenario. To the upside, 1.35 would be conservative target, while the 1.3626, 61.8% retracement and declining trendline resistance cluster ... (full story)

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    • Feb 20, 2012 3:58am
    • #1
    • Quote
    • Guest

      IP XXX.XXX.255.6

    • Appears hopeful.
    • Feb 20, 2012 4:45am
    • #2
    • Quote
    • Guest

      IP XXX.XX.231.32

    • What is the reason behind rising the correlation price of EUR against USD while the market was in favor of USD on 15/02/12? Would you please make me clear about the issue on 15/02/12?
    • Feb 20, 2012 6:31am
    • #3
    • Quote
    • Guest

      IP XX.XXX.139.14

    • Quoting Guest
      What is the reason behind rising the correlation price of EUR against USD while the market was in favor of USD on 15/02/12? Would you please make me clear about the issue on 15/02/12?
      China which decided to lower the RRR and the greece which seems to probably receive additional money
    • Feb 20, 2012 7:46am
    • #4
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    • FX Bunte

      FX Bunte's Avatar

      45 posts

    • Head and shoulder failed becouse I think, when you look at the daily we have an up A B Boundery{Retracement} A at 1.2623 B at 1.3233 C at 1.2973 Target D Extension at 1.3609.
      The market in my experience comes back 90% off the time to the .382 retracement Fib{Why? Quote Mentor THE FX CHIEF Maybe for water I do not know}
      That .382 retracement on the daily is the .618 on the 4 hour
      FX Bunte
    • Feb 20, 2012 8:31am
    • #5
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    • Nguyenngoctu

      Nguyenngoctu's Avatar

      50 posts

    • More bullish sign killing H&S .
      Reach above 1.332 will confirm uptrend .
    • Guest

      IP XX.XX.196.179

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  • Story Stats
  • Posted: Feb 19, 2012 9:17pm

    Submitted by: fxtimes

    Category: Technical Analysis

  • 3,504 Views

  • 5 Comments

    Guest, Guest, Guest, FX Bunte, Nguyenngoctu

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