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05.04.2012 10:03 AM
EUR/USD Intraday Technical Analysis and Trading Recommendations for April 5, 2012
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Technical outlook and chart setups:

The GBP/CHF pair maybe looking to hold its intermediary lows at 1.5280 levels and look to rally further higher towards 1.5620 levels. It is recommended to initiate 50% long positions at current levels, risk below 1.5250 for now. Please note that prices have seen support at the fibonacci 0.382, of the entire rally between 1.5000 and 1.5525 levels. A bullish bounce here would easily push through higher levels before producing a meaningful pullback. Also please note that a break below 1.5250 could bring back GBP/CHF into the 1.5200 levels before rallying further. 

Trading recommendations:

Initiate 50% long positions, stop below 1.5250, target 1.5620.

Good luck!


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Mourad El Keddani
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