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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.

Thursday, September 8, 2011

EURO/USD Outlook:The pairs seems content to wait for the ECB


The pairs seems content to wait for the ECB before choosing a direction, although broad based indicators are painting a bearish picture. Trading remains choppy and subject to headline reactions. Initial support stands at 1.3951 (17th June low) then 1.3837 (12th June low). Resistance is located at 1.4149 (7th Sept high), 1.4278 (6th Sept reaction high) then 1.4386 (1st Sept high).


By
M.Zohaib Gadit
Forex Trading Consultant
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