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Euro Technical Outlook
Tuesday, 28 July 2009 14:24:10 GMT  |  Jamie Saettele, Senior Currency Strategist
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A 4th wave triangle is complete and expectations are for an upside break through 1.4340 and then 1.4720.  Failure ahead of 1.4340 suggests that wave i of 5 (of C) may be complete.  A small second wave could reach 1.4035/85 (Fibonacci support) before the advance continues.  As such, short term traders may wish to trade from the short side the next several days.  Longer term traders should wait for a better buying opportunity.  

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