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The FXDD Weekend Forex Commentary is available for viewing.

Written January 22, 2010 at 5:01 PM EST by Greg Michalowski 

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2 Responses to “The FXDD Weekend Forex Commentary is available for viewing.”

  1. mazhar al jaffal on January 23rd, 2010 10:28 am

    hi sir
    what are your expectations for the eur - usd for the next week

    thanks a lot

  2. Greg Michalowski on January 24th, 2010 9:45 am

    Dear sir,

    My expectations are off the chart patterns and if they continue to show bearish or bullish tendencies. Off the hourly chart the price is still below the 100 hour MA at the 1.4194 level (and moving down). There is a trendline that comes in at 1.4185. As long as the price remains below this the bias is bearish.

    We are in a consolidation./corrective phase in the EURUSD after the move down from the 1.4579 high to the double low at 1.4029/31 area. There is an upward sloping line on off the lows which come in at 1.4098. If the price falls through that line, the price should go lower (as long as it stays below that line). I also look at the 100 bar MA on the 5 minute chart for clues.
    Although I have a bias, I cannot predict to know which way the market may go expect by watching the clues I get from the charts. They tell me what the bias should be.

    Kind regards,

    Greg Michalowski

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