Deltastock Daily Fx Analysis - Forex Forum

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> Deltastock Daily Fx Analysis, April 15, 2009
Stoyan Mihaylov
post Apr 15 2009, 9:48
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April 15, 2009
Current level - 98.25

A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 94.12 and 99.36.

Our target at 98.87 was filled, but the minor downtrend is still intact and there are no signs of a reversal, so we favor continued negative bias towards 96.01 and 93.58. Crucial is 100.74. Intraday resistance comes at 99.36.

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