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Forex Technical and Fundamental Forecasts for October 2009 [7]
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Main » Articles » Forex Technical and Fundamental Forecasts for October 2009

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The structure remains quite constructive on the monthly chart, with the market having put in 6 consecutive monthly higher lows and potentially now looking for a seventh. The price has also traded above the 61.8% fib retracement off of the major 2008-2009 high-lows,

Remains locked in a very well defined downtrend from 2007 with the market putting in a series of lower highs and lower lows. A fresh lower top is now sought out by the 2009 yearly high at 101.45,

Difficult to determine whether we are in the process of attempting to carve a major lower top in the 1.7000 area ahead of the next drop below 1.3500 or are looking for a higher low ahead of a fresh upside extension beyond 1.7000 and back towards the 2 handle.

Has extended declines in 2009 to fresh lows by 1.0185 thus far ahead of the latest minor bounce. Despite the downtrend, we contend that the market is in the process of attempting to carve out a higher low above the multi-year lows below parity,

Although the market has undergone some steep setbacks since the onset of 2009, we contend that the longer-term structure from here is quite bullish, with the current consolidation in the 1.0500-1.1000 area to

No sign of a let up just yet, with the market still very much trading within a bullish trend. We have already seen 8 consecutive positive monthly closes, and with the market just shy of critical psychological barriers at 0.9000,

The commentary here is the same as with the Aud/Usd…..No sign of a let up just yet, with the market still very much trading within a bullish trend. We have already seen 7 consecutive positive monthly closes,

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