Technical Trading Update Jan 5 2011
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The Daily Trader update provides technical analysis of major currency pairs and forex market conditions at the time of the post. The support and resistance levels posted and current market price could be dramatically different from what you are seeing at the moment.
Looking forward to the end of the week, there are some significant news events that could dramatically change the technical trading outlook.
EUR/USD – Current 1.3145
4 hour View – As noted in the last update, a break of the 1.3300 area gave way to the next leg lower and now finding support in the mid 1.3100’s. Significant congestion between