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Technical Analysis – USD/JPY rise expected

5-30-08

00:38a GMT – USD/JPY pair is consolidating above former resisance (now support) at 105.40. Hourlies are overbought but I am looking for this support to hold.

Trading Idea: Above 105.30 look for 105.8 and 106.3. If support is broken look for 105.00 and 104.50

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May 29th, 2008 | Tags: , , , , , | Category: Technical Analysis | Leave a comment

Fundamental Alert – UK Housing data raises Dollar

5-29-08

9:08a GMT – UK housing data came in five times worse than expected and was the cause of the rise in USD across major pairs as traders feared that the a global recession could be closer at hand. If more bad data continues, especially in light of hawkish comments by the Fed on inflation expect [...]

May 29th, 2008 | Tags: , , , , | Category: Fundamental Analysis | Leave a comment
 
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