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Tuesday 5 January 2010

2010-01-05 Morning session preparation

EU: there is channel broken up on 30M chart, great for long, especially above 1.4450. important resistance [bottom of Asian channel] @1.44 if price retrace to this area, I would wait and eventually trade short below this level.[If traded long - there is plenty of room up on daily chart]

EJ: yesterday struggled with new highs, however not potential seller yet. Strong resistance above 133.50, so beware if you trade long. Whatever direction of trade you should be careful. Reversal on daily [middle of leg up in flat channel] is possible.

GU: This pair is on a nice buy setup but 1.6240 may be limit for what it may do today, however above that level there is plenty of room to rise.

GJ: has good potential to fall 300 pips within two days and even more within two weeks. for buy signals stick with either GU or EJ.

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