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Khamis, 23 Februari 2012

Analysis EUR/USD - 23 Feb 0939

EUR/USD intraday: supported by a rising trend line.
Update on supports and resistances. ( 23/02/2012 09:39 )




Pivot: 1.323

Our preference: Long positions above 1.323 with targets @ 1.332 & 1.335 in extension.

Alternative scenario: Below 1.323 look for further downside with 1.32 & 1.3175 as targets.

Comment: the RSI is supported by a bullish trend line.

Key levels

1.3375
1.335
1.332

1.3291 last

1.323
1.32
1.3175


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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