Forex News – 25th October 2011


Reported barrier at $1.4000 remains solid at the time of this writing. A break above
$1.4000 may encourage further gains, targeting $1.4029 where 100DMA lies.

A daily close above 100DMA may signal further gains are in store. Portugal PM is due to
speak today on 2012 budget is the main attraction

For today as well as any leaked details on tomorrow’s EU summit.


Japan’s usual threats of FX intervention no longer doing their magic. The market is eager
selling USD/JPY to test Japan’s tolerance despite some gains in the pair that are related
to Japanese investors purchasing overseas assets.

Nervousness ahead of the EU summit tomorrow may lead to further declines in the pair.


15MA’s Trap.

The 15MA at $1.3874 appears to be providing decent support I am uncertain how solid it
actually is. The barrier at $1.4000 may provide some attraction but the break under 15MA
may deepen towards $1.3822.

A sustained break below $1.3820 may confirm a temporary top was made, targeting $1.3662.

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The review is presented for instructive purposes in condition it will not be the key factor for trading.
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