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Brainyforex Newsletter, Issue #0026 -- Market commentary
December 02, 2009
Hi

Market Commentary

Welcome to the brainyforex newsletter special commentary.

Market Update 1 December 2009


US Dollar daily chart 1 December 2009.

The DJIA reversed strongly in its last trading session to close at 10,472. This caused the US Dollar to fall back below the 75c natural square level.

The forecast now reverts back to bullish forecasts for AUD/USD, EUR/USD and GBP/USD.
And bearish forecasts for USD/JPY, USD/CAD and USD/CHF.

WD Gann said the weekly chart was the most important chart to determine the trend direction. We are now back to seeing a healthy 'bullish' weekly chart for the DJIA and a healthy 'bearish' weekly chart for the US Dollar.

Consider each pair according to its own natural square levels

In relation to the natural square levels for the individual currency pairs, I will only take a long position if EUR/USD moves above 1.5100 level. Say at 1.5130. I have my conditional order waiting to be picked up should price move to this level.

I have a conditional order waiting to go long at 1.6657 should price move to this level for GBP/USD. (1.6600 is natural square level).

Today, I have taken a short order on USD/CHF at 0.9998 as the natural square level has already been cleared.

I do not want to take a long position on AUD/USD right now because it is approaching possible resistance at the natural square level of 93.50.

I do not want to take a short position on USD/CAD as it is approaching possible support at the natural square level of 1.035.

I do not want to take a short position on USD/JPY as it is near 86.00 natural square level for possible support.

Regards
Fritz
www.brainyforex.com

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