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$EURJPY – Squared up

The Cross squared up the NFP movement at 112.21. It  is now near the .382 fibo @ 111.29.  We are in a nice channel so we will see if we get follow through.  A break of the .382 @ 111.29 targets the 110.87 Support.  Further targets are the 110.50 and the S5 @ 110.25

 

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$USDCHF – NFP reaction

The Cross is reacted strongly to the upside breaking to the R4 and stopping.  We are in a nice up channel so we will see if we get follow through.  A break of the R4 @ 0.9562 targets the .382 fib retracement @0.9609.  Further targets are the 0.9618 and the R5 @ 0.9712.

 

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No Post Today

Waiting for Reaction to NFP  Non Farm Payrolls

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Star Award

FYI - Silver xag may follow gold

By Adam Hewison – Despite all the turmoil in Egypt and the Arab world, gold has stubbornly refused to rally.

Result of this mornings Blog

Ended up nicely

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$EURJPY – rising wedge break

The Cross is breaking out of the rising wedge which is bearish for it. Normally we would get a nice long run with this pattern but tomorrow is NFP so markets will probably be sluggish in anticipation of that announcement.  A break of the 112.21 targets the S4 target @ 111.69 and the .382 fib retracement @111.29.  Further targets are the .500 Fibo @ 110.44 and the S5 @ 110.25. 

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HEADS UP

WE are having rolling blackouts across Texas due to the Arctic Storm.  Possibility exists that there may not be electricity tomorrow so if the room is not open that is why.

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$EURUSD – pulls back

As expected the Cross finally took out the target @ 1.3863 and has pulled back to the R4 target @ 1.3811  We should expect a pullback here to the .382 fib retracement @1.3751 / .500 fib retracement @1.3715.   Looking for an upward move to continue after the pullback.  A double top would be 1.3863 with targets beyond at 1.3940. 

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Looking for an upward move to continue to the 1.6166 resistance

As expected the Cross finally broke out of the wedge and took out the resistance @ 1.6066 and has moved to the R5 target @ 1.6130.  WE should expect a pullback here and then a run at the 1.6166 resistance.   Sitting currently just above the .786 fibo from the day chart. Should the cross decide to take a run at the bottom target would be a return to 1.5986..  Looking for an upward move to continue to the 1.6166 resistance.  A double top would be 1.6308 

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