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Euro / US Dollar
Tuesday, 03 November 2009 15:48 GMT  |  Written by Jamie Saettele
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The EURUSD has broken below the trendline that is drawn off of April and September lows and is now testing parallel channel support.

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The EURUSD has broken below the trendline that is drawn off of April and September lows and is now testing potential parallel channel support.  Bearish risk is now moved to 1.4865 and potential resistance levels are 1.4680, 1.4730 and 1.4765 (61.8% Fibonacci).

 

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.  Send requests to receive his reports via email to jsaettele@dailyfx.com.
 

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