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AUDUSD drops sharply below 0.7789 previous low support and reaches as low as 0.7722 level. The pair remains in downtrend from 0.8155. Deeper decline is still possible to 0.7650-0.7700 area. Near term resistance is at 0.7835 and followed by 0.7890, as long as these levels hold, we’d expect the downtrend to continue. However, above 0.7890 level will indicate that a short term cycle bottom has been formed on 4-hour chart and the downtrend from 0.8155 has completed.



Daily Forex Forecast

Senior Strategist shares his view on Professional Risk Management and Pro Pip Talk

In today’s market environment risk management is even more important than at any time in history. Often times Forex Traders face erroneous offers in their emails. We cannot change this. We cannot undo the zealous nature of emotional forex fanatics that truly forgot that before they printed their excerpt – they forgot to realize that not one particular currency moved that amount. All of us get bombarded with the new bust-out robot or service which blows the doors out. They read fascinating blogs about how many hundreds of pips were booked in just a few hours and how last quarter thousands of pips were earned with some top-secret forex program. ...

Forex Traders may consider this Forex Signal for Price Action

July 8th 7:15-7:50 p.m. EDT for 1.75 hours duration moderate-to-strong price action

July 9 th 2:20-2:50a m. for 2.5 hours duration with strong price action

July 9 th 8:15-9:00 a.m. for 3 hours duration with strong price action

Currently primary pairs, eur/usd, gbp/usd, usd/jpy are out of harmony but this will change soon based on a primary directional move within the U.S. Dollar Index. I will be on call pretty much for the next 48 hours in effort to capitalize on what I believe will be a rather handsome profit potential and I look forward to making a solid Trade Alert.

If you followed my signal today we lost ...

[LEFT][SIZE="5"]EUR/USD - Euro Dollar[/SIZE]1,3908. EUR USD is in a range between 1,3880 and 1,4050. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H, daily ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,3880 (28 pips). If the support breaks then the target will be 1,3800 (108 pips). [/LEFT][INDENT][LEFT][B]Resistances[/B]1,3945 - 1,4050[B]Supports[/B]1,3880 - 1,3800[/LEFT][/INDENT][LEFT]more information on [URL="http://www.mataf.net/en/forex/eurusd"]EUR/USD - Euro Dollar [B]Click Here[/B][/URL][/LEFT][CENTER][IMG]http://www.mataf.net/section/devises/page/images/eurusd.png[/IMG][/CENTER]Mataf.net ...