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27.09.2013 12:31 PM
#USDX Analysis for September 27, 2013

The price formation from the 80.05 low to yesterday's 80.62 is not impulsive. The sideways pattern makes us believe that this is just a pause to the larger downtrend. Prices got rejected once again at the 80.65 resistance and we believe that soon downward pressures will reappear.

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However, if prices break above the red resistance trendline at 80.65-70, we will anticipate a move towards 81 with 80.28 as a stop. However, we believe that it is more possible to see a new low towards 80-79.90.

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The daily chart confirms the fact that the resistance still holds and that prices cannot manage to break above it. When resistance is not broken, it is expected to see a downward move instead. So we remain bearish biased as long as prices stay below 80.65.

Ringkasan
Urgensi
Analitik
Alexandros Yfantis
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