EURUSD This is the same chart that I have been posting for the second half of last year. It simply displays the zones created by drawing fibs from key highs and lows of the market and creating a box between the 50 and 61.8 areas. When the zone is created from a low to high, then it is considered a support area and colored green.  When it is created from a high to low, the zone is considered a resistance zone and colored red.  The taller the zone, the bigger the move that created it, and in theory the
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EURUSD is caught at the moment in a fight between a monthly level at 3300 which happens to be a big number, and an attempt to break above a weekly level at 3400.  While it seemed like it would make a break earlier today, News from Spain’s Rajoy reversed the break above 3400 into a test of the 3450’s.  In the chart you can clearly see a support-resistance trend line coming off of the recent daily highs (Red angled line).  Hold below and look for 3300 to be tested again (probably with success).  A break and hold above and you
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    The chart above is an updated daily chart of the one posted yesterday.  These are fib confluence levels based on monthly measured moves.  As you can see at this point price has traveled deep into the support area and bounced out.  Today’s close will give a hint of a possible continuation of this long move.  Tomorrow’s close may be a better indicator.  There is a substantial amount of fundamental noise building a EURUSD short case.  Angela Merkel stepped out yesterday and made some statements about backing Spain as Spain and Italy’s borrowing costs were trending higher.  This makes
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Though this is an older story, it is still interesting. Japan’s influential retail currency traders, known as Mrs Watanabe, speak on their top picks and how they trade the yen during the crisis. Kei Okamura reports.
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Everyday, we hear some pretty grim predictions about the markets and the economy. But this is one of the more comprehensive and most gloomy outlooks we've ever seen.
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