Daily Technical Update
February 22, 2010
EUR/USD Eyes 1.33



* 4H: The EUR/USD pair is showing signs of continuing decline after the Fed raised discount rate last week. (Refer to Daily Technical Update 2.19.2010 EUR/USD).
* The price action filled the gap the week started with, and the 4H bearish candle so far is the dominant one.
* The stochastic confirms with a crossover in the bearish region.
* A 100% swing projection of the ab swing to cd goes to the 161.8% extended retracement of the the bc swing.
* A break below 1.3580 may be confirmation
* Daily: This projection is also confluent to a daily time-frame projection.
* The 1.33 area is just below the 138.2% projection of the previous downswing.




Fan Yang
Currency Analyst
Commodity Trading Advisor

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