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January 18, 2012 – Trend Line Outlook January 18, 2012

Posted by Musa in : Journal , trackback

GBPUSD

In GU time frame H4 seemed that it was in resistance, and consolidating back down:

It was reach the resistance point and go back down. If we take a look at M30 TF, it seemed that it was retracing and fail to break the resistance level in 50% and goes down to 100%.

The scenario today is GU will continue the current trend (down), until 161.8% from last trend. So, sell is preferable until 1.5296.

EURUSD

EuroUsd in H4 showed that it was trending and getting to resistance level.

If we take a look at smaller time frame, we can see that this pair was retracing after in a long trend yesterday:

It seemed that the price was in a long trend, from 0% until 100%. Then it retrace to 38.2% point of the trend.

First scenario is if the price can break the previous high, it will continue goes up until 161.8% point of last trend. But, another scenario, if it cannot break the previous high, it was made a new trend as follows:

It have been retrace on level 61.8 point of fibo and retracing back. So, if it break the previous 100% level, it is possible goes down forward until 161.8% point of fibo last trend.

So, wait and see for EURUSD.

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