Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors. Daily Analysis - 01/12/2010


On daily, has continued to break lows on over extended moves. Next major support areas are previous highs at 1.2916 and lows at 1.2588.

On the 15min chart, still in a series of measured moves short, with 50% short at 1.3052 having a reaction. Daily pivot at 1.30332 may help hold market down. Line in sand at 1.3072.


On daily, pound has continued to hit new daily lows and has reached a major support (previous highs) area at 1.55206.

On 15min chart, still in extension short, with 50% at 1.56042, with target at 1.54257. Line in sand is at 1.56328.


On daily, Yen is puling back after hitting daily targets. Extension long at 50% at 83.206, may serve as the next bounce point, with a target at 84.995.


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