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Forex Trading


RobAde

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In reply to: crowman28 on Friday 03/11/06 11:41pm

From looking at the weekly chart over the last 7 years, the target appears to be 157. But I am not sure how to apply the T.A. to the currencies. Although I believe that T.A. works really well on the currencies.

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In reply to: happy2 on Friday 03/11/06 11:51pm

TA is very fair on currencies Happy, a large spike often produces a large pullback, like the Pound-AUD chart.

 

Euro-Yen is the most consistent slow uptrend chart I reckon.

 

I don't know about fundamentals, but seems like people often sell down the Yen?

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In reply to: happy2 on Saturday 04/11/06 12:00am

So you expect a little spike to 153, then pull back and continue?

 

I thought the daily chart said it is forming a triangle pattern then push on if successful. You see a higher low, and steady highs. Resistance around 150.75

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QUOTE
And by the way, I am still keeping an eye on the EUR/JPY. I'm still quite aware that this is the first major consolidation is a strong uptrend and the market could continue higher. But trading is all about acknowledging and assuming risk. The EUR/JPY is still within the triangle's support and resistance and I will be keeping a close eye on how prices react near 150.00..............

Raghee Horner is an experienced trader with more than 15 years' experience in the markets.  She is also the author of the bestselling "Forex Trading for Maximum Profit" and "Thirty Days of Forex Trading"..

 

 

The Chart is below and it appears she is saying that this is a consolidation......BUT.....see what the market will do next.

post-38-1162560177.png

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In reply to: crowman28 on Saturday 04/11/06 12:06am

QUOTE
So you expect a little spike to 153, then pull back and continue?

 

Yes, Crow, that is how I would read it. But like I have posted below Raghee Horner seems to think like you. She has the runs on the board.

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