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Newsletter Asian Session 14/11/2007
By: AKforex - 14-11-2007
0votesA) CALENDAR
-No Press Releases
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4670 111.80 2.0850
R2 1.4650 111.50 2.0800
R1 1.4630 111.00 2.0760
S1 1.4585 110.70 2.0685
S2 1.4570 110.35 2.0660
S3 1.4540 110.10 2.0590
C) WATCH
-Interest Rates
D) TRADING TIPS
CANDLESTICKS REVERSAL PATTERNS
Dark Cloud Cover: This is a two day reversal pattern that only has bearish implications. This is also one of the times when the pattern\'s counterpart exists but has a different name. The first day of this pattern is a long white candlestick. This reflects the current trend of the market and helps confirm the uptrend to traders. The next day opens above the high price of the previous day, again
adding to the bullishness. However, trading for the rest of the day is lower with a close price at least below the midpoint of the body of the first day. This is a significant blow to the bullish mentality and will force many to exit the market. Since the close price is below the open price on the second day, the body is black. This is the dark cloud referred to in the name.
Next Analysis: The dollar is again under pressure. Expect to back to the record levelsContent Provided by:
AKforex
AKforex offers online forex trading as an Introducing Broker for Royal Division of IKON GM.The Royal Division is part of IKON GLOBAL MARKETS, Inc. a member of the National Futures Association (NFA) and registered with the Commodity Futures Trading Commission (CFTC) as a Forex Dealer Member/Futures
DISCLAIMER:
While AKFOREX attempts to ensure the accuracy of these data by using sources it believes to be reliable, release dates, times, items included and content are frequently subject to change, error and ommissions. These data shall not be construed as a recommendation to buy or sell any security. AKFOREX shall not assume any legal liability or responsibility for any incorrect, misleading or altered information contained herein.
Our trading platform provides sophisticated order entry and tracking of orders. All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinary volatile market conditions. Trading on-line, no matter how convenient or efficient does not necessarily reduce risks associated with currency trading.
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