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Forex · News · Forex ForecastsNEWS / Forex Forecasts |
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Buy the dollar from the indicated levels of support…Rate dynamics and recommendationson USD-CHF and USD-CAD.
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13:39 07/28/2004
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Buy the dollar from the indicated levels of support…Rate dynamics and recommendationson USD-CHF and USD-CAD.
We recommend buying USD-CHF, when it declines to 1,2520. In case it continues to go down, you shouldstrengthen long positions from 1,2410. Conservative players should not rush with buying and should stand to long, when the rate declines to 1,24.
However, if Tuesday data is positive for the dollar, we might not see such a massive decline of the rate. Correction might limit itself to local support at 1,2580. Open buying from the levels that will be current for the moment of the release.
USD-CAD rate looks rather perspective now and presupposes significant growth reserves.
That iswhy you shouldbe ready for long-term buying of the rate.
Thus, the first level for such purchases will be 1,3275. The next level for opening strategy long positions, which we recommend to conservative players, is 1,3230, in case the rate continues to go down. Protective stop shouldbe arranged right under 1,3150.
Long-term target os buying is at 1,4850-1,4935. The closest targets of the rate are 1,34 from where “bears” will try to take a revenge and 1,3950,which will be an indicator of sreiousness of ”bull” market sentiments.
The forecast was created by trans1.
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