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Khamis, 16 Februari 2012

Analysis EUR/USD - 16Feb12

EUR/USD intraday: the downside prevails.
Update on supports and resistances. ( 16/02/2012 09:57 )




Pivot: 1.308

Our preference: Short positions below 1.308 with targets @ 1.295 & 1.2915 in extension.

Alternative scenario: Above 1.308 look for further upside with 1.3155 & 1.319 as targets.

Comment: the RSI is badly directed.

Key levels

1.319
1.3155
1.308

1.29956 last

1.295
1.2915
1.29


TIPS

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Even with the same trading system 2 forex traders can get opposite results in the long run. The difference will be again in money management approach. To introduce you to money management, let's get one fact: losing 50% of total account requires making 100% return from the rest of money just to restore the original balance.

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