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Euro Technical Outlook

Monday, 19 May 2008 14:11:17 GMT

Written by Jamie Saettele, Technical Currency Analyst

The push through 1.5570 confirms that our bullish stance is correct (and also completes an inverse head and shoulders).

The rally from 1.5283 could be a series of 1st and 2nd waves or wave i of a diagonal.  Either way, look higher near term.  Risk can moved to 1.5396, but support should be strong in the 1.5533/55 zone. 

STRATEGY:  Bullish, against 1.5396, target TBD 

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