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Shivani Financial GBP/USD short term bottom seems 5478-5383 and top 6210-42. Shivani Financial EUR/USD short term bottom seems 2580-2618 and top 3510. Shivani Financial USD seems to weaken this quarter with GBP target of 6330 and EUR of 3250 if talks of QE3 takes place and euro area resolution policies implemented without new story. Shivani FinancialGold has taken correction according to our forecast for it to go 1850 by August end.

Wednesday, September 21, 2011

Euro/Usd is trading in a narrowing range


Euro/Usd is trading in a narrowing range as tension mounts towards the FOMC meeting. The Fed is expected to “do something” or more than one thing to help the economy. In Europe, there is more hope for Greece, as talks with the troika are moving forward. The market’s direction will be clearer soon.

EUR/USD Technicals
  • Asian session: Quiet session saw the pair around 1.47.
  • Current range: 1.3630 to 1.3750.
  • Further levels in both directions: Below    1.3630, 1.3580, 1.3510, 1.3440, 1.3350, 1.3250.
  • Above:  1.3750 1.3838, 1.3788, 1.3838, 1.3950, 1.4030, 1.41, 1.4160, 1.4220 and 1.4282
  • Very important support is still far, at 1.3440. There are many small steps before this point.
The peak of 1.3750 is important resistance before 1.3838.


By
M.Zohaib Gadit
Forex Trading Consultant 

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