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Thursday, Semptember 12 2013


 
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Dear Trader,

The U.S. dollar remains under selling pressure on speculation that the widely expected U.S. Federal Reserve's stimulus reduction might be smaller than anticipated. The Federal Reserve stimulus decision remains the key factor influencing the EUR/USD directions.


Technical Analysis :




Buy Signals: When the prices touch the support 1, a buy position can be initiated and the resistance 1 will be the first target. A tight stop loss within 20 to 30 pips is highly recommended. The stop levels depend on the trader risk appetite.

Sell Signals:When the prices touch the resistance 1, a sell position can be initiated and the support 1 will be the first target. A stop loss within 20 to 30 pips is highly recommended. The stop levels depend on the trader risk appetite.

Chart of the Day:

EUR/USD



The EUR/USD pair is trading above all the Ichimoku indicators on 4h chart which is a Bullish sign; further gains are expected to the upside and prices may face a minor resistance at 1.3325 and then a strong resistance from 1.3356-area.

The last one represents a good level to initiate short positions. To the downside, imminent support lays at 1.3251/78 zone and a break through will send the prices to the strong support around 1.3214 (yellow line).

Long positions can be initiated at 1.3271 and 1.3251 and then from 1.3214.

Only Syria conflict and the Fed's next move remain a key focus for financial markets.

No clear directions is established, prices can move either way depending on the headlines, so traders should proceed with cautious, especially ahead of next week FOMC meeting.

 

 

   

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