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Consistent forecasting of price movement in today's Forex market is a forgotten art
that requires a deep understanding of price structure and development. The Daily
Forecaster is a comprehensive report that guides traders through the trading day
and is based on an integrated blend of techniques perfected by veteran analyst Ian
Copsey. Based on the techniques described in his popular book "Integrated
Technical Analysis" (published John Wiley and Sons.) Ian provides his unique and
insightful 9 page daily report to a wide range of traders which currently includes
hedge funds to banks and retail traders. Take a free trial to see why so many traders
rely on his unique analysis.
Cable -the last decline?
Posted 09-07-2008 at 10:58 AM by FX-Forecaster.com
I'm not sure if this is a brave or foolhardy call. However, from a price, time & momentum perspective there seems to be a growing risk of a base being seen at 1.7421-44.
Indeed, following the continuing rally in the Dollar in general the same momentum conditions are being seen in the daily charts of the European currencies. The targets for the Euro and Swissie are not as crystal clear as I would like but the 1.4037-58 area looks possible in the Euro and the 1.1275-1.1311 area Swissie.
We wait with baited breath. If I am totally out of my mind and the Dollar bearish divergences in the 4-hour charts break then the implication is for further aggressive declines...
My neck is stretched to be sliced off if I'm wrong as I stick it out - but I think we're at the end of the current road in the Dollar rally...
Indeed, following the continuing rally in the Dollar in general the same momentum conditions are being seen in the daily charts of the European currencies. The targets for the Euro and Swissie are not as crystal clear as I would like but the 1.4037-58 area looks possible in the Euro and the 1.1275-1.1311 area Swissie.
We wait with baited breath. If I am totally out of my mind and the Dollar bearish divergences in the 4-hour charts break then the implication is for further aggressive declines...
My neck is stretched to be sliced off if I'm wrong as I stick it out - but I think we're at the end of the current road in the Dollar rally...
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