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rufffen · 14-07-2006, 10:20

EUR/USD. This item might start to retrace north at 2600 levels, or around 2540-2580 area, look for a clear reversal signal, good opportunity to go long.

Monthly support line 3 broken (2650) which is an indication that this item might visit support line 4 at 2510 and retrace there.

GBP/USD. An extended dive of max 120-150 pips from current levels (1.8360) could be in place, before a new retrace north and a good opportunity to get in long.

USD/JPY: This item broke resistance line 3 (monthly) and can test the resistance line 4 at 117.40, this would be an excellent area to take small shorts.

YEN Crosses: Id wait for action on majors, especially on YEN to establish a valid topping action, before initiating any trades.

Overall idea is to give more time for YEN to top out, and EURO and CABLE

GBP/JPY: Closed at b/e since the markets seems to be undecided.
to bottom out and to sell high / buy low.

14-07-2006, 10:20	#36
rufffen Zone trading Join Date: Jun 2005 Posts: 1,032 Downloads: 2 Uploads: 0 Rep Power: 5	Re: EUR/JPY CYCLES UPDATE Part1 EUR/USD. This item might start to retrace north at 2600 levels, or around 2540-2580 area, look for a clear reversal signal, good opportunity to go long. Monthly support line 3 broken (2650) which is an indication that this item might visit support line 4 at 2510 and retrace there. GBP/USD. An extended dive of max 120-150 pips from current levels (1.8360) could be in place, before a new retrace north and a good opportunity to get in long. USD/JPY: This item broke resistance line 3 (monthly) and can test the resistance line 4 at 117.40, this would be an excellent area to take small shorts. YEN Crosses: Id wait for action on majors, especially on YEN to establish a valid topping action, before initiating any trades. Overall idea is to give more time for YEN to top out, and EURO and CABLE GBP/JPY: Closed at b/e since the markets seems to be undecided. to bottom out and to sell high / buy low.