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nazlee
08-19-2007, 03:42 PM
Euro/dollar
The euro/dollar sank to a three-month low on Thursday and it practically reached the target of the double top at 1.3350 before recouping losses into the close. So, the market behaved as expected. It is severely oversold in the short term and I think it should recover today. Following this bounce, the sell-off should continue

Below 1.3363, support comes at 1.3353. A pivot low is at 1.3264. Distant support is at 1.3115.

Strong resistance is at 1.3480. 1.3555 follows this. The next level is 1.3600. This is followed by 1.3640 and 1.3695. Only a break above 1.3750 would negate the double top, but this is unlikely.

Oscillators are declining.

NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bullish

MRSaad
08-19-2007, 03:51 PM
yes its true

NEAR-TERM: Mixed
MEDIUM-TERM: Bearish
LONG-TERM: Bullish

AND I THINK SO

It is severely oversold in the short term and I think it should recover today. Following this bounce, the sell-off should continue