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[B]BIAS[/B]: The initial area to watch is between 0.9236-55

[B]Resistance[/B]:... 0.9222........ 0.9236... 0.9255........ 0.9270-90
[B]Support[/B]:........ 0.9170-80... 0.9155... 0.9120-30... 0.9091-00

[B]MAIN ANALYSIS[/B]: Friday's reversal higher broke above the 0.9120-30 break area and then even 0.9150-55. As warned, the fact it did implied a move back to the 0.9222 high. Here and at 0.9236-55 (possibly even 0.9274) there are projection areas and one of the two is likely to cause an approximate 50-60 point correction before another leg higher that could approach the 0.9334 high. Quite how the early development proceeds will obviously determine the final target. However, in the larger picture the more ...

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USDCAD continues its sideways movement in a range between 0.9841 and 1.0050. As long as 1.0050 key resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.0422 (Dec 14, 2011 high), and one more fall to 0.9600-0.9700 area is still possible. One the other side, a break above 1.0050 resistance will indicate that the fall from 1.0422 has completed at 0.9841 already, then the following upward movement could bring price back to 1.0400 zone.



Daily Forex Analysis

Following the slow paced week in the financial markets in which commodities and U.S stock started off the week declining while metals rising on account of the weaker than expected (but not that bad) U.S labor report, thus week there will be many more items on the agenda that could stir up the markets. Among the news items on the agenda are: U.S. retails sales report, U.S housing starts, ECB President speech, MPC meeting, Philly Fed Manufacturing Index, U.S existing home sales report and U.S. jobless claims. Here is an outlook for the week of April 16th to 20th
The complete Weekly Outlook Update on Trading NRG
(All times GMT):
April 16th
13:30 –U.S. Retail Sales Report: this report will present the monthly ...

[url="http://www.daytradingbias.com/?page_id=1093"]Weekly Outlook[/url] updated for the week of Apr 16 to 20.

You can view the latest charts and comments [url="http://www.daytradingbias.com/?page_id=1093"]here[/url].
Previous week comments and charts can also be found on the same page.

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