Thursday, 9 June 2011

Bearish resumption.

Although in the last 11 days we have observed dollar strength, my outlook for the coming days is still bearish. Current move can be classified as corrective or as a pull back to the previous trend line. In the next few days we should see a breakout out of current consolidation and then bearish resumption.

The support and resistance levels which have been calculated with Fibonacci retracement levels are as follow:
 
1.5317 - 100%
1.4815 - 61.8%
1.4654 - 50%
1.4492 - 38.2%
1.4292 - 23.6%




If you have any questions please do not hesitate to contact me and  remember to subscribe for more forex news.

Tomasz Gdynia
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22 comments:

  1. Stuck In Syndey9 June 2011 at 05:12

    im hating this good aussie dollar, most are loving it.

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  2. LinksZee9 June 2011 at 05:27

    ahh im gonna have to brush up on my economic vocabulary to understand this blog! I'll be back though!

    ReplyDelete
  3. JayPower9 June 2011 at 06:21

    Looks like i need some dollars :P

    ReplyDelete
  4. Dejch9 June 2011 at 06:39

    not so good..

    ReplyDelete
  5. Brick9 June 2011 at 07:33

    great post, can only hope the dollar continues to rise but i doubt it.

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  6. Anonymous9 June 2011 at 07:47

    I might hold off before converting all my currency for that big America trip next year

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  7. Xenototh9 June 2011 at 08:07

    I've been hearing a lot about this corrective move in the market, wonder how long it is going to last...

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  8. Makel9 June 2011 at 10:36

    interesting.

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  9. Bunny Hill9 June 2011 at 12:13

    Ah I didn`t think that, nice to know.

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  10. BigMike9 June 2011 at 12:15

    Bush and Obama both pursued the weak dollar... do you think it will change any time soon?

    ReplyDelete
  11. Casually Anime9 June 2011 at 12:29

    Great post.

    ReplyDelete
  12. Tech Unlocked9 June 2011 at 12:31

    Interesting.

    ReplyDelete
  13. Kunta Jay9 June 2011 at 14:27

    I agree.

    ReplyDelete
  14. Richard9 June 2011 at 17:09

    Great blog.

    ReplyDelete
  15. Stuck In Syndey9 June 2011 at 18:59

    im still loving your blog name

    ReplyDelete
  16. Moobeat10 June 2011 at 01:00

    interesting

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  17. Apache10 June 2011 at 05:18

    Um, what?

    ReplyDelete
  18. Jonny10 June 2011 at 05:29

    Interesting, followed.

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  19. RageCompeX10 June 2011 at 06:15

    no high peaks at this time

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  20. Mile2Marathon10 June 2011 at 08:45

    hmm interesting points

    ReplyDelete
  21. WWAnon10 June 2011 at 09:33

    Will keep following to remain up to date.

    ReplyDelete
  22. Desktoper10 June 2011 at 14:29

    Nicely done man!

    ReplyDelete

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