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rufffen - fx and spot gold trades

Monday, July 17, 2006



OK, lets look at the past EUR DAILY chart first. Way I see it A/B/C correction is complete now, and uptrend CAN resume. Lets wait and see if current levels provide good support and from that point onwards Id trade EUR NORTH, as long as the levels hold.

Now looking at CABLE CHART, way I see it is triangle SUP/RES setup broke SOUTH, and quite possibly this item will reach 7800 levels SOON, breaking monthly SUP ZONE2. However, there is a FRACTAL on that item pointing NORTH, so lets see how the scenarios work out.

Currently Im LONG both EUR and CABLE, however if the SOUTH SUP levels crack Ill reverse my position SHORT. CABLE TARGET is 7800 EURO TARGET is 2200 initially, and maybe sub-2000 later in time.

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