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  1. Daily FX Market Outlook by AceTrader 31-12-2010

    by , 12-30-2010 at 09:10 PM (Forex Trading Signals)
    [B]Market Review - 30/12/2010 21:40 GMT

    Dollar rebounds from 7-week low against yen on upbeat US economic data[/B]

    The dollar recovered from a fresh 7-week low against the Japanese yen on Thursday as U.S. initial jobless claims fell more than expected and Chicago PMI index also rose to the highest in two decades. The series of robust US economic data suggested the US economy was gaining upward momentum, lifting the Treasury bond yields.

    The greenback initially fell to 81.28 against the Japanese yen in Asian morning, however, the pair recovered from there on short-covering. Dollar later rebounded to 81.86 in NY session, supported by the release of a series of upbeat US economic data.
  2. Trade77; EURGBP Is Struggling At 0.8600ish 7am

    by , 12-30-2010 at 07:26 PM (Winners Edge Trading Daily insights)
    Once again at 0.8600 area! Will it make it to close above this level? Or will bounce off again with embarrassment?

    If it broke that level then 0.8650, 0.8700 would be next levels to watch and if it bounced off that level then it could fall and reach at least 0.8525 which is the trendline.
    So I’m looking for price action here and for breakout we need a four hour candle close completely above 0.8600 level and for selling scenario will look at possible candlestick patterns in hourly timeframe to go short. Currently in hourly timeframe we have a long tail to the upside which shows we might see a reversal pattern here.

    Read the original post here
    Tags: eurgbp, resistant
  3. EUR/USD Daily Review 30 Dec 10

    by , 12-30-2010 at 11:47 AM
    Good day forex trading koalas.

    In the previous review, Masoud mentioned that due to the lack of trading volume, unexpected currency movements may happen and it will be a challenge to analyze the markets.

    Read the rest of the [URL=""]EUR/USD review[/URL] here.
  4. Trade77; EURUSD Is Still In The Triangle 7pm

    by , 12-30-2010 at 09:19 AM (Winners Edge Trading Daily insights)
    Single currency is still in the triangle I’ve mentioned almost a week ago and I’m looking for a possible bounce around 1.3300 to go short or maybe a breakout to the upside from there.

    1.3300 is now the upper bond of the symmetrical triangle and also 200sma, so it’s an important level to watch.
    Price is almost near at the apex of the triangle indicating a possible breakout is close. Last upside move in this pair is showing this breakout might be to the north but I don’t want to predict the market, so I will wait for a breakout to the upside or a possible bounce off the upper bond and then a breakout to the downside.
    If I saw a bearish H4 candle which was rejected from 1.3300 then I will be a seller at that point ...
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