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Thursday, June 02, 2005

Forex forecast for EUR/USD

other majors are expected to swing and firm up during trend reversal time.....wait for the rise and initiate shorting in them........

SELL OTHER MAJORS ONLY DURING FIRMING UP MOVES NEAR HIGH SET FOR THE DAY USING ADVANCE HEDGING OR TRAILING STOP AND BUY NEAR THE LOW SET FOR THE DAY TO BOOK PROFIT AS DIRECTIONAL SWING TRADES ........

SESSION WISE SWINGS:

Early Japanese session - USD will be highly volatile with spike*
Late Japanese session - highly volatile with spike* (00:30 - 07:00 GMT)

Early European session - USD will become highly volatile with spike
Late European session highly volatile with spike (07:30 - 13:00 GMT)

Early US session - USD will become highly volatile with spike
Late US session highly volatile with spike ( 13:30 - 20:30 GMT)

each session is of 7 hrs and 30 duration and they can be divided as early, mid and late each of 2 hrs and 30 min

EUR/USD – The pair has stabilized last week and continues to hover around the 1.25 mark with decent sized bids lying around that region. A break below could have broader repercussions and a massive shift in sentiment on its crosses as well. But bottom pickers and decent sized hedge fund bids lie up to the 1.2460 support mark with a break brining the 1.2355-70 support zone into focus. On the upside, 1.2590 is the first resistance mark followed by a stronger one around 1.2645 with any move above it leading to strong offers. Heavy data from the Zone is eyed for further direction.

EUR/USD Yearly will fall

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