We'll be talking about the AUDCHF,which has given Us a clear picture of what we are to expect on this pair, looking at the chart above its all in a form of triangles and angular shape move. Studying the chart properly we can see some chart pattern formed from previous price-action, there are 2 important pattern in this chart that I'm going to explain, the first is a "W" shape pattern I placed a number in this format I , II , III , IV , V and an arrow from "I" till "V", look closely at the placement of each number you'll see a "W" shape in the process of doing so...Ok? what does the W mean? Well that's the market pattern anywhere you see a "W" shape on your chart it means price may go on to the opposite direction be it up or down. And the second pattern is "DOUBLE BOTTOM" looking closely at number II and IV we see only the both numbers hit that support level @ 0.68750 So what wou...
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Markit Manufacturing (HIGH IMPACT)
The Manufacturing Purchasing Managers Index (PMI) released by the Markit economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.
May 03, '10
● Actual ,61.6 ● Consensus ,61.3
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