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EURUSD Could Break Support on 60-Minute Chart
Monday, 29 September 2008 02:43:16 GMT
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Over the weekend the market gapped down 64 pips after US lawmakers finalized the infamous $700bn rescue package. The ensuing price action saw the pair break the old triple-top resistance-turned-support. Looking at the 60-minute EURUSD chart below, we now notice that the pair is currently located at upward sloping support. As such, a significant break of this current level could trigger an avalanche selling spree of the Euro.
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