8 Mar Forex Update
- Posted by tradingpoints
- on March 8th, 2010
Price action above 1.3705 targets high daily and weekly resistance closer to 1.3806
Advancing smartly from last week’s Daily DeMark Sequential Buy Signal into daily resistance this morning.
Recovering smartly from last week’s death spiral. Short term bullish above 1.5030-65
The immediate counter trend rally is bullish above 135.75 but currently overbought at 240 min and daily resistance.
Australian Dollar bounced off weekly support at 8571 and is now bullish overbought at weekly symmetry resistance at 9175 is just over 1 month. Updated Support levels for multiple time-frames
Canadian Dollar weak and looking to test weekly support levels at 1.0028. Immediate pattern bearish below 1.0340
Making all the right moves to carve out a bottom. A daily close above 91.29 is needed to turn the corner
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Also daily & weekly support levels and market profile stats are published nightly at tradingpoints.net
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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