Here is the turning points for majors, the week (22 Oct - 26 Oct) 2012 !
For more details about how to use these levels, read this blog:
Saturday 20 Oct 2012 05:00 PM
Tags: AUD, CHF, EUR, FX, GBP, JPY, Levels, Majors, Market, Reversal, More…USD
EURUSD is losing upside momentum, see the chart below :
As shown on the 15 min. chart ,most likely the pair would bounce 30 or 40 to test 1.3000 levels before the next move , there's a risk to form a lower leg below 1.2960 before attempting to rise above 1.3000 !!!
As shown on the 60 min chart below , as long as 1.2951 holds, there's a risk for testing 1.3050 levels once again , an hourly close below 1.2951 would extend the pair for further losses !!!
Last week we have few successful setups:
EURUSD: fell from 1.3060 towards 1.2960, then recovered 40 pips
GBPUSD: bounce 50 pips from 1.6000, strong rebound almost 230 pips from 1.5915
USDCHF: gained almost 100 pips from 0.9260
AUDUSD: gained almost 150 pips from 1.0230, at 1.0400 fell 90 pips !!
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