We have a very nice set of equidistant channels now acting as support and resistance levels. It is clearly visible on the 4-hour chart. Trend appears downwards.
Posted on July 18th, 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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Well we got a number of big things last night: the Employment Situation for the US was out and then Oil reached nearly USD140 per barrel.
It is fascinating that currency pairs prove that they abide by technical studies so closely. The USDJPY almost hit the 38.2% retracement of the weekly high low and quickly retreated when Dollar [...]
Posted on June 7th, 2008 by Soh Tiong Hum
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The current low of USDJPY has made an extended move of 161.8% of wave 1. It waits to be seen now whether we have a reversal or a revision of the wave count.
Posted on April 21st, 2008 by Soh Tiong Hum
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