Weekly Technical Strategist
EURUSD: Turns Back Above The 1.3668/81 levels
GBPUSD: Halts Its Downside Weakness Temporarily.
USDJPY: Bears Continue To Dominate
EURUSD
Having pushed off the 1.3611 low on Monday followed with another two days of weakness, EUR turned sharply higher on Friday invalidating its minor resistance at 1.3727(July 31'07 high) and breaking through its Jul 26'07 high at 1.3771 to close the week at 1.3787.The pair is up by 1.01% for the week and if a follow-through to the upside materializes, scope for extension towards its 2007 peak at 1.3851 is likely. Above there will resume the pair's medium term uptrend on hold since July 24'07 towards 1.4000, its psychologically important level.
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Long USD/JPY Daily
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