ForexPros Daily Analysis January 25, 2011
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On the daily, the euro is in measured moves long, from 50% at 1.36148, with a target at 1.3726.
The euro has been in measured moves long from January 10.
On the 15 min chart,we can see the euro in long measured moves.
On the daily, the pound is in a long setup from 1.59688, with a target at 1.60409. The target from the greater long at 1.58609, is 1.61505.
On the 15 min chart, we can see the pound in measured moves long, with the 50% at 1.59674 backed by the daily pivot at 1.59733. If this fails at 1.59561, we can expect the pound to go back to its next 50% long at 1.5926.
On the daily, the 61.8 is acting as support but the yen is in measured moves short. A definitive break of the 61.8% line at 82.336 would be a strong confirmation of the short. Yen is between two broken setups of a long and short but within a greater short. Previous April 1995 support though holding up market.
Forex Trading Analysis written by Diana Rochford for ForexPros. For more information about technical analysis visit ForexPros.
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