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Euro Technical Outlook
Friday, 14 August 2009 14:55:09 GMT  |  Jamie Saettele, Senior Currency Strategist
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There is no change from yesterday…I am still expecting a EURUSD decline.  “The EURUSD has run into Fibonacci resistance in what may be a wave 2 top.  As focused on in recent days, the common topping area for 2nd waves is between the former 4th wave extreme and the 61.8% of the first wave decline.  The EURUSD has reversed from the top of this zone.  Favor the downside against last week’s high (1.4450).”

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