Dear Traders
According to our
technical analysis of Sep.4th .2012
The GBP/USD prices
have reached the expected mentioned targets.
GBP/USD
Technical Analysis
In the last week
we said ; “ The GBP/USD prices have
succeeded in breaching the resistance level, after forming the Doji candle and
then formed the Hanging Man candle which reflects the shift of the prices trend
from a bearish trend to a bullish trend.
So the prices would continue its
rise for this week and the first expected target is 1.5904 which will represent
a correction level, then it will resume its upward movement towards the 1.5974
level.”
Now we can see
that “ The GBP/USD has
reached the expected targets of 1.5904 level and 1.5974 level, but, at the
beginning of this week trading , we expect the prices to retreat and test the
main support levels and
support more the bearish trend, because the expected
next target for this w<eek would be towards the 1.6090 level
.”
The USD/MXN prices
have, also, reached the expected mentioned
targets.
USD/MXN
Technical Analysis
In the last week
we said The USD/MXN witnessed a correction
step within an upward flag on the daily chart and we also notice on the weekly
chart that the prices have resumed its bearish trend after making the
corrections , and the next expected target would be towards the 12.9248
level.
Now we can see
that: the
dollar/Piso has reached the mentioned target of 12.9248 level, and we expect
that the prices may rise a little above this level, and this is just a
correction because we are still expecting that the general trend of the market
would remain bearish and the expected next target will be towards the 12.7813
level at the average 500.
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