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Archive for May, 2008

May 1, 2008 - Forex Technical Analysis

EUR/USD After several days of drops, the pair is showing a strong bullish signal on the daily chart. The daily Slow Stochastic is showing a bullish cross, and the 4 hour chart is supporting the bullish notion. There seems to be a fresh reversal momentum that might take the pair back to the 1.5720 level. GBP/USD There is a bearish channel forming on the 4 hour chart, as the cable now attempts to breach through the upper level. If the breach validates, there could be a much stronger bullish momentum created post breach. The 4 hour chart... ( read more )