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On graph Eur/Usd: 1 Week - From 1.60423 (Fibonacci retracement 0.00%) to 1.36999: we have oblique line indicating a major downtrend. - Bothe indicators Stoch and RSI are overbought and moving in direction down: downtrend advised. - In the next time cycle the market show many probabilities to experiment a downtrend time cycle. - We have the confirmation of the downtrend trend with the current market price below a Fibonacci retracement 50.00% (1.34958), formation, and by other hand the current m…
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GBP-USD down to 1.4970 for 11-01-13
On graph: 1 Week - From 1.6736 to 1.6777: we have line oblique indicating trend down (Line down 1) - From 1.5916 to 1.5724: we have line oblique indicating trend down (Line down 2) - From Line down 1 to Line down 2 we have a downtrend on 1W graph. - We have the confirmation of the downtrend because the market price still be under the Fibonacci fan line 50.00 to 38.20 On graph: 1 Day - From 1.5680 to 1.4845: we have horizontal channel formed by 2 Fibonacci retracements 38.20% …