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[B]In the weekly interview on [URL="http://www.forextv.com/"]Forex TV[/URL], I spoke with Julie Sinha about the collapse of the Pound, the factors that will influence the Euro, American [URL="http://www.forexcrunch.com/how-a-jobless-recovery-looks-in-forex-non-farm-payrolls-preview/"]Non Farm Payrolls[/URL] and more events.[/B]

In addition, I covered expected technical breakouts, including some the EUR/AUD cross as well. Enjoy!

Here is the [URL="http://www.forexcrunch.com/collapse-of-the-pound-state-of-euro-and-more-on-the-video-outlook/"][I][B]video forecast[/B][/I][/URL].

GBP/USD - 1.4890..http://www.acetraderfx.com Traders are using any excuse to sell the pound n despite a short-covering rally fm a ten-month low of 1.4781 to 1.5016 (NY) , traders made another attempt to sell cable in Asia following another opinion poll by UK Independent newspaper (ComRes poll) showed a high likelihood of a hung parliament. Sterling weakened fm 1.5000 to current lvl. Order book is thin ahead of European opening but bids (profit- taking) shud be fm 1.4880-1.4850.

INTRA-DAY GBP/USD: 1.4895

Last Update At 02 Mar 2010 04:20 GMT


Cable's intra-day weakness suggests caution on
our prospect of a rebound, abv 1.4945/50 wud signal pullback fm 1.5016 (NY) has ended n yield another bounce to 1.4970 but reckon 1.5016 wud remain
intact in Asia n bring further choppy trading.


Hold long with stop as indicated but below sup
at 1.4881 needed to extend weakness twd 1.4851.


Range Forecast
1.4900 / 1.4930


Resistance/Support
R: 1.4948/1.5000/1.5016
S: 1.4881/1.4851/1.4781

http://www.acetraderfx.com

[B]Bias: [/B] Ideally I'd actually like to see this correct higher to 1.5178. However, the downside is vulnerable & MT losses are expected

Given the size of losses yesterday we'll either see a day of consolidation or complete panic again. Below 1.4898-18 would imply losses back through 1.4835-60 to the 1.4732 low. At all times watch to see how this correlates with EURUSD and the expectations there (which are not for panic losses.) Only below yesterday's low would extend directly through 1.4734 & 1.4681 and to 1.4629 at least. Also note support at 1.4555 and 1.4406 if a move like yesterday occurs again...

Please view the complete analysis in the attached PDF file.

For a full description of how ...

Attached Files

• The Brief Daily Forecaster.pdf (46.3 KB, 132 次查看)