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Forex Pub Report, September 12, 2005 |
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For the time being, it appears we have reached the lower end of a
steadily falling range that was established last week. 1.2330 is
a strong support for now, but if that breaks we might dip to
1.2270. Look to pick up dips for a move back to 1.2410.
...and the experts say...
(Jyske Bank)Technical analysis soberly reveals when markets are overreacting, and
the players cannot see the forest for the trees. Of course, as a market
participant you must trust technical analysis and not be overwhelmed by
stampedes in the market, which actually often occur. Moreover, you must
abandon every attempt to apply cause and effect to the financial
markets – a practice that is often attempted. The model may work, and
it may not...(more)
(Saxo) EUR/USD fell through the lows last week as stops were taken out all the
way to the 1.2310 area. This represents a full rejection of the recent
rally, and we now focus lower on 1.2000 in the coming days. 1.2380 is
first resistance.
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Forex Report