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EUR/USD : Critical Point 1.3668

Melbourne Qindex 21:29 GMT March 10, 2011
EUR/USD : Critical Point 1.3668 : Reply
Entry: Target: Stop:

EUR/USD : Critical Point 1.3668

As shown in the monthly cycle charts the market is consolidating within the monthly cycle pivot centers at 1.3767 - 1.3796 - 1.3834 which is marked in yellow in the monthly cycle directional indicator.

Monthly Cycle Directional Indicator : [1.2589] - [1.2771] - [1.2924] - 1.3497 - 1.3616 - 1.3767 - 1.3796 - 1.3834 - 1.3921 - 1.4089 - 1.4278 - 1.4298

As shown in the profile of the monthly cycle charts the bias is on the downside when the market is below 1.4056. If the market downside momentum is strong enough to penetrate through the critical point at 1.3668, the market will head for the supporting barrier at 1.3612 // 1.3616.

In the mean time the current expected trading ranges are 1.3668 - 1.3706 - 1.3719 - 1.3759 - 1.3810 - 1.4031.

EUR/USD : Monthly Cycle Charts