Monday August 9, 2004 - 06:12:34 GMT
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I-Knowindices - i-knowindices.com
EURO and GBP are expected consolidate at higher levels with swings and reverse......
The monthly cycle made Euro and GBP to firm up for the week end as expected by the forecast model...
after a false rise for this week beginning,they are expected to slide and correct...in this process USD is expected to gain the lost ground......
In coming days USD/YEN will be used as maket leading indicator....it is expected to drop for a day to 109.43-109.78 area and then rise big to reach above 112.45 and we will see new highs in coming weeks...that trigger will make EURO and GBP to lose the weight and slide more unassumingly .....
so position traders can take short position in EURO and GBP during quick rise and long position in USD/YEN during dip and wait till this month end to get big profits.......
we will witness new lows in EURO and GBP as well..........
All the best in your trades............
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