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After touching 79.14 key support, USDJPY rebounds strongly, suggesting that a cycle bottom has been formed on 4-hour chart. Further rise to test 80.09 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 77.66, then another rise towards 82.00 could be seen. On the other side, a clear break below 79.14 key support will confirm that the uptrend from 77.66 had completed at 80.62 already, then further decline to 78.00 area could be seen.



Daily Forex Forecast

EUR/USD recently fell to a fresh two year low at 1.2235. EUR/GBP is well under 0.80, at level last seen in 2008. EUR/JPY is around 11 year lows. UR/AUD ticked below 1.20 – a 23 year low.

Only EUR/CHF is flat at 1.20, without any sign of life, thanks to the effective peg that the Swiss National Bank imposes. How long can they hold the dam on their own? What will happen if it breaks?

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurchf-cannot-hold-for-too-long/"]EUR/CHF Cannot Hold for Too Long[/URL][/I][/B]

Forex Trades 07/11 - US session - by [URL="www.forexticket.us"]Forex ticket[/URL] (ex [URL="http://www.mataf.net"]mataf.net[/URL])
[b][img]http://www.forexticket.us/images/_V3img/fleches/down_arrow_16.png[/img] [url="http://www.forexticket.us/en/forex/eurusd"]EUR/USD - Euro / US Dollar[/url][/b]
[b]Entry[/b]: 1.2285
[b]Stop[/b]: 1.231
[b]Resistances[/b]: 1.2405 - 1.234 - 1.2295
[b]Supports[/b]: 1.2175 - 1.221 - 1.2245

[b][img]http://www.forexticket.us/images/_V3img/fleches/up_arrow_16.png[/img] [url="http://www.forexticket.us/en/forex/gbpusd"]GBP/USD - British Pound / US Dollar[/url][/b]
[b]Entry[/b]: 1.557
[b]Stop[/b]: 1.554
[b]Resistances[/b]: 1.5645 - 1.561 - 1.557 ...

EUR/USD continues to trade around two year lows, after a meeting by Euro-zone finance ministers in Brussels ended with little progress being made, apart from extending Spain’s deadline to reach its deficit targets. In the US, the markets are awaiting Trade Balance figures, as well as the release of the minutes of the Federal Reserve’s most recent policy meeting, which could indicate whether the Fed will implement QE3.

Here’s an update on technicals, fundamentals and what’s going on in the markets.

Read the rest of the article [B][I][URL="http://www.forexcrunch.com/eurusdjuly-11-eurogroup-meeting-disappoints-markets-await-fed-minutes/"]EUR/USD Eurogroup Meeting Disappoints, Markets Await Fed Minutes[/U ...