Overhead resistance needs to be taken out now. Indicators show losing momentum. Still I would be happy to bring the euro home for the weekend than the dollar.
Posted on June 27th, 2008 by Soh Tiong Hum
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The Aussie is now at a confluence of resistance levels at around 9530:
The previous support line broken now turn resistance
61.8 retracement of swing high-low
30-ma on the daily chart
Price shows immediate reaction. Some work might need to be done.
Posted on June 20th, 2008 by Soh Tiong Hum
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Together with the previous high at 102.00, we might see some resistance before price is able to clear.
FX is steeped in the use of Fibonacci levels. The A-B-C reveral pattern of higher-low is also a 50% retracement level.
Posted on June 11th, 2008 by Soh Tiong Hum
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Things may be falling into place for a key decision to be made. We got the USDJPY at a 38.2 retracement (106.67) of the weekly high-low which is likely to act as a strong resistance.
In the meantime, EURUSD is supported by the 61.8 retracement (1.5566) of the daily high-low while gold is also likely to have strong support at USD [...]
Posted on June 10th, 2008 by Soh Tiong Hum
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