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Euro Technical Outlook

Tuesday, 23 September 2008 14:14:17 GMT

Written by Jamie Saettele, Senior Currency Strategist

Last night’s comments were that “the EURUSD is vulnerable to a pullback soon (in a wave iv correction).”  That correction is either complete at 1.4680 or is underway towards the 1.4591-1.4631 zone.  Either way, higher prices are expected. 

Resistance is stacked between 1.4919 and 1.5177.  Pride ideally remains above 1.4546.  I’ll look to issue an alert in the day(s) ahead regarding pattern development in the Forex Alerts section.       

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