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Thursday 14 March 2013

EURUSD


1. Pair has stalled rally at RSI 50 at the 4 hourly chart.
2. Bearish candlestick
3. Pair refused to close the gap: more downside risks
4. We'd advised a sell here, SL: 1.30800, TP 1.26700 area.



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1. The upwards move was more than what we expected, but we like it.
2. We believe that the pair should have more topside awaiting. 
3. With reference to the chart below, we still believe in a range bound between 1.29100 and 1.30600, thus we would advise a buy the dips at 1.30 or lower.
Update: Suggest buying the dips at 1.29750. 




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1. Pair looks set to be trapped between the 100 and 200 DMA.
2. Momentum is to the downside, after capped by 0.618 fibonacci level and 100DMA.
3. Longer trend is still set to be on the bull side, but trendline is close to being broken.
4. MACD is set to crossover - bullish cause
4. We favour buying dips towards 1.28500, where previous support in September/October 2012 are seen. However, still remain neutral for the longer term. 

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