Technical Trading Update Feb 21 2011
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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.
EUR/USD – Current 1.3665
Overview – Last week we saw a push back to the 1.3700 area capping just under the previous weeks high. As long as it continues to hold under 1.3740 will be looking for the potential return back down to 1.3400. A push through 1.3740 will retest the 1.3850’s then back to 1.4000.
Resistance – 1.3708 / 1.3740 / 1.3790 / 1.3824 / 1.3858
Support – 1.3640 / 1.3620 / 1.3574 / 1.3547 / 1.3500 / 1.3460
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GBP/USD – Current 1.6216
Overview – I have been watching the test of the top of