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SunBirdFX Daily Market Analysis : 01/29/2013
We also worte : "AUDUSD continues to slide as well, Sell at 1.0410 tp 1.0380 SL 1.0450". This trade closed with a TP as well.EURUSD continue to be confined to a rather tight range. Buy orders start at 1.3400/20 (corporates), with sell stops below, ahead of more buy orders at 1.3360/75 and possible sell stops through 1.3350. Sell orders begin from 1.3480/00 (1.3500 barrier), with buy stops above through 1.3505/15. There are more sell orders at 1.3550/60.
We are looking to Buy the pair at 1.3400 (Weekly pivot ), with SL at 1.3360 and TP at 1.3520.
Nomura, a Japanese multinational conglomerate of financial services, thinks that it would be no major surprise to see EUR/USD temporarily trade above 1.35. If so, it may even test the 1.37 level that many technical analysts are focused on, before resuming a gradual (growth-driven) downtrend.