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Here is my second choicce for today:
http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-19.v02.html
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Here is the hourly perspective for US session updated:
Another good data for Cad: Retail sales came out way better than expected, rising 0.7% while the core reading reached 1.8%; pair hit 1.0063, and remains quite close to that level; we have a small gap from previous inflation news, but technically pair has still more room to fall: no oversold signs, and pretty bearish indicators. under mentioned low, expect the pair to reach 1.0000/20 area, and even further 0.9960/70 zone if parity gives up. Corrective movements will find resistances at 1.0105, 1.0140 and 1.0170, where the pair will close the gap.
Herei smy first choice for today, taking the chance also to answer a special request from yesterday:
http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-19.html
Here is the hourly perspective for the US session updated:
Here is my first choice for today:
http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-18.html
EUR/CHF has reached a 17 months low at 1.4475, rebounding to current 1.4492 area; despite several non official attempts from SNB to halt current Swiss Franc strong rally against Euro, the pair remains strongly bearish printing fresh lows on daily basis. Rumored intervention had not been able to halt the rally, and at this point, chances of a rate hike in Switzerland are just pushing the pair lower. Technically, the pair shows oversold conditions in multiple time frames but far from pointing a reversal; under current daily low, next midterm target area comes at 1.4315, October 2008 monthly low. Short term supports lie at 1.4475, 1.4430 and the 1.4400 zone. The upside now likely to remain limited by 1.4510 resistance area, and 1.4535, 20 SMA in the 4 hours chart.
Here is my second choice for today:
http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-16.v03.html
Here is the hourly perspective updated for US session:
Here is my first choice for today:
http://www.fxstreet.com/technical/forex-strategy/the-best-pair-to-trade-now/2010-03-16.v02.html