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Disclaimer: This is my personal Blog, reflecting my very own views on Forex , shares and commodity tradings. As such, all informations provided here are barely for information purposes only,. The author should not be held liable for any errors, incomplete information, delayed messages, or for any actions taken in reliance on information contained herein.This blog is new, being established on 06,May.2010. While I am executing trades, posting will be sent simultaneously. The date/Time indicated here is of US Pacific zone(++15 Hours for Singapore/KL/Beijing, Or ++7 hours GMT)

Sunday, February 20, 2011

Euro/Usd ---heading beyond 1.3800 near term ??

The announcement from Fed  that the economy was getting slight improvement  but mentioned that in order to recover lost employment might take five or six years. As a result there was no adjustment on  its second wave of quantitative easing. and if we look at the Dollars index, it dipped below 77.68 on last Friday close and it may plunge below 76.85 with its bearish momentum near term..
And there was no major negative news on Euros comparatively.


The sentiments on EUROS/ USD is slightly Bullish -biased.


H4 EU Chart




H1 buttery pattern with Ichimoku Chart




Basing on the H4 chart, we can see that further lifting above wave tip" e" is predictable, and the Double Top may be sighted near areas 1.3715-1.3800. However, a convincing lift beyond it (1.3715) may result in 1.3800--1.4000 being breached.


On the H1 chart with Butterfly pattern , we can predict a lift in the 1.3800 areas with a slight bullish sentiments in upcoming trading days, and it may reverse and heading down South near its lifting near  1.3800 areas too.




Trading Strategy


Trade with caution with smaller lot size on LONG Euro/Usd initially,, and watching out areas near 1.3800-1.4000 which will provide a golden opportunity to Short all the way till 1.3536.

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