Forex Confirmation Analysis 2.06-8
| 09 February 2012
http://www.youtube.com/watch?v=j9tm2h_TSEo
This video supports our Market view dated the 4th of February to the 8th 2012
Now, in spite of the good report of the Jobs numbers at 243k;the USD slightly manage to move higher within the 77.60-79.57 trading range for the week and ending at the 78.95 just above its support levels.
On the technical side, the 4 hourly chart formation of the prices compared with the Stoch/RSI technical combination have indicated an positive divergence resulting the USDx to move higher to 79.25 then closed for the week at 78.95. And the market's reaction for the past week have surely been a pause and a consolidation. The intra-day and week candle bar indicates that this week's price range has been a correction only before it resumes its near term bear direction.Inital objective at the 78.05/10 basis point support is what its aiming for.
UPDATE : As of Feb 09- Expect increase volatility, follow-through price action and pullbacks in the next 2 trading days especially the trading sessions in European market towards the US American trading sessions on Friday for both majors & cross rates respectively!
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ONLY THE BEST FOR YOUR TRADES!
Remember, that trading results varies from time to time and your financial conditions should always be considered as trading losses do occur in the Foreign Exchange Market.
