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Daily Forex Tips by FX Guru Wed, Sep 20 2006 06:59 GMT. Forex Technical Analysis - EUR/USD:(1.2680) in flag off 1.2939 by KBC Bank ...

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two major methods of analysis used to forecast the behavior of the forex market:Technical Analysis and Fundamental Analysis.

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Technical Analysis In Forex News

Forex - EUR/USD Technical Analysis (Euro / US Dollar)

The pair EUR/USD has faked last friday the breakout of the support at 1.27 and is currently testin a pullback on 1.28. The pair is still moving below the lower band of its bearish channel (purple line). A paralell of this bearish channel is acting as resistance (pink line). All indicators are still bearish. We continue to advise short positions as far as 1.28 is resistance. A return below 1.

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Forex - AUD/USD Technical Analysis (Australian Dollar / US Dollar)

The pair AUD/USD found support on 0.98 last friday. The pair continues to move on the lower band of its bearish channel (purple lines). All indicators are bearish. We continue to advise short positions as far as 0.9950 is resistance. The breakout of 0.98 will give a new sell signal and open the way towards 0.97. In case of return above 0.9950, we will wait the breakout of 1.

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Forex - XAU/USD (Gold) Technical Analysis

The gold has continued its bearish movement and the breakout of 1578 gave us a new sell signal. Currently, the gold is testing the next support at 1550 points. The pair is now moving below the lower band of its medium term bearish channel (purple lines). All indicators are bearish. We maintain to trade only short positions as far as 1586 points is resistance.

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Forex - EUR/JPY Technical Analysis (Euro / Yen)

The pair continues to move on the lower band of its bearish slant (purple line). The pair is still testing the support at 102. All indicators are bearish. We continue to advise short positions as far as 103.67 is resistance. The breakout of 102 will give a new sell signal and open the way towards 101. In case of return above 103.67, we will wait the breakout of 104.45 to advise long positions.

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Forex - EUR/GBP Technical Analysis (Euro / British Pound)

The pair EUR/GBP has rebounded yesterday on the support at 0.7950 and is currently testing a pullback on the resistance at 0.80. Indicators are globaly bullish. The bearish gap which ocurred at the opening is still not filled in. All indicators are bearish. The pair is still moving into a bearish channel (purple lines). We continue to advise short positions as far as 0.8050 is resistance.

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