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INTRADAY TRADING SIGNAL BY ACETRADER.COM: USD/CHF

USD/CHF : 1.0553

Last Update At 03 Feb 2010 01:16 GMT

Current price action suggests as long as minorres at 1.0575 holds, dlr's corrective decline fm 1.0644 is likely to extend marginally below NY low of1.0541 to 1.0525/30, loss of momentum shud keep dlrabv 1.0509 (prev. res) n bring strg rebound later.

In view of abv analysis, buy on next decline butbreak of 1.0608 needed to signal correction over.



Range Forecast
1.0541 / 1.0570


Resistance/Support
R: 1.0575/1.0608/1.0625
S: 1.0541/1.0525/1.0509

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Market Review - 02/02/2010 23:13 All times in GMT

Dollar falls on improved risk appetite on upbeat U.S. home data




Euro fell initially in Asian morning after RBA held rates unchanged to as low as 1.3886 against the dollar. Despite euro's brief rise to 1.3952 in European morning, the single currency retreated due to renewed risk aversion on concerns about a possible debt default by one or more member states, which in turn might threaten the euro and even the existence of the eurozone. However, the single currency edged higher in European session after the release of stronger-than-expected eurozone PPI data. Eurozone PPI came in at 0.1% m/m and -2.9% y/y in December versus the expectation ...

Forex trading may experience good price action with forex traders contemplating technical price action today at:

3:00 PM EDT Tuesday, February 2: Moderate price action for 2.5 hours duration. NOTE: The start time deviation may be + or - 20 minutes.

9:30 PM EDT Tuesday, February 2: Moderate price action for 5.5 hours duration. NOTE: The start time deviation may be + or - 1 hour.


Britt Maras – Senior Currency Strategist

http://www.ablesys.com/fxcm

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