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Technical Analysis for USDCHF 29 Apr 2010

The USDCHF slipped above 1.0888 yesterday, but failed to consistently move above that area so far. The bias is neutral in nearest term but this fact could produce a false breakout scenario which could trigger bearish pressure especially if price break below 1.0770 area testing 1.0700 region. Immediate resistance at 1.0923 (yesterday’s high). Break above that area should trigger further bullish momentum testing 1.1000 region.

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Technical

Technical Analysis for USDJPY 29 Apr 2010

The USDJPY had a bullish momentum yesterday, topped at 94.31 and closed at 94.01. The major bullish outlook since the bullish running from 84.82 remains intact but the pair has been moving in a range area of 94.70 – 92.00 for more than 4 weeks now without a clear direction. I will keep stay away from this tricky pair for now. Immediate support at 93.30. Break below that area could trigger further bearish pressure testing 93.00 – 92.50 area. Initial resistance at 94.70. Break above that area should confirm the bullish continuation scenario targeting 95.50 – 96.70 region.

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Technical

Technical Analysis for GBPUSD 29 Apr 2010

The GBPUSD attempted to push lower yesterday after break below the range area (of 1.5520 – 1.5200), bottomed at 1.5125 but closed higher at 1.5208. The pair is in transition phase where bullish outlook is in serious threat and bearish bias seems ready to take control. Earlier today in Asian session price keep moving lower below 1.5200 indicating the downside pressure is still there. Immediate support at 1.5135/28 area. Break below that area should trigger further bearish pressure testing 1.5060 – 1.5000 region. On the upside, consistent move above 1.5200 should lead us into a no trading zone as direction would become unclear.

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Technical

Technical Analysis for EURUSD 29 Apr 2010

The EURUSD didn’t make significant movement yesterday, move in range area of 1.3115 – 1.3265 in a volatile market. The bias is neutral in nearest term but the main scenario should remain to the downside. Immediate resistance at 1.3267 area. Break above that area could trigger further bullish momentum testing 1.1.3300/30 region. Initial support at 1.3150. Break below that area should maintain the intra-day bearish bias testing 1.3100 – 1.3080 area.

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Technical

Technical Analysis for USDCHF 26 Apr 2010

Overall, the USDCHF shows no clear direction so far, moving in a range area of 1.0888 – 1.0420 in a volatile market. On daily chart below we have a raising wedge formation indicating potential bearish scenario especially if price break below the lower line. Immediate support at 1.0675 area. Break below that area could trigger further bearish pressure towards 1.0600 before re-testing 1.0420 region. Initial resistance at 1.0888. Break above that area could trigger further bullish momentum testing 1.1000 psychological level.

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Technical

Technical Analysis for USDJPY 26 Apr 2010

After corrected lower and slipped below the bullish channel since failed to break above 94.70 area, the USDJPY had a significant bullish momentum last week and break above 93.75 indicating potential bullish outlook as downside correction may end and price ready to continue the bullish scenario . However we need a clear break above 94.70 area to continue the bullish scenario targeting 95.50 even 96.70 – 97.80 region this week. Another move below 93.75 should lead us into no trading zone in nearest term but the main scenario remains to the upside.

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