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'Market and Human' Psychology perspectives with tips on how to avoid common mistakes by Pierre Charlebois, Senior Trading Coach at www.TradingPostFinancial.com

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Many USD pairs look to be capitulating…

Posted on June 15, 2009 at 21:59 in Uncategorized by Pierre Charlebois

It appears as though the USD strength will temporally come to an end. Many pairs appear to be bottoming.

Ideally a new sudden low and reversal would provide an interesting entry point.

Once the bottoms form it will be interesting to see if we make fresh tops or simply correct and head lower. I would expect the upside to be limited. A three wave corrective move up would signal fresh lows ahead.

Tags: eur/usd, forex

2 Responses to “Many USD pairs look to be capitulating…”

  1. on 16 Jun 2009 at 11:11 am1j.j

    Dear Pierre hi,you expect the upside to be limited so to which level they might go ?,thank you so much for posting yr view & wish all the best.
    Regards

  2. on 16 Jun 2009 at 11:44 am2Pierre Charlebois

    JJ

    I’m very reluctant to consider the upside much past this point. I may trade the breakout above 1.3933

    But…

    I think there is a good possibility of a new weekly high but I’m more interested in waiting for a top and becoming bearish again unless it starts making highs beyond 1.4350

    Cheers

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