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EUR/USD Breakout Potential?
Friday, 02 January 2009 17:18:01 GMT
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- Friday, 09 October 2009 01:07:54 GMT Dollar: Something Has to Give
- Thursday, 08 October 2009 21:06:02 GMT EURJPY Looks Constructive
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- Monday, 05 October 2009 21:08:32 GMT Daily Pivot Points
EUR/USD is currently consolidating within a falling wedge formation, which is typically a bullish reversal pattern, but this can only be confirmed by a break above trendline resistance at 1.3978 toward 1.4300. On the other hand, a decline below trendline and Fibonacci support at 1.3848 would signal potential for a drop toward the next region of support at 1.3575 - 1.3635 (the 50% Fib of 1.2422-1.4720 and the 12/16 low).
Source: Intellicharts
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