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The Trend of the Day - EUR/USD
Thursday, 10 September 2009 11:25:08 GMT  |  Gregory McLeod, Power Course Instructor
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Overdue for a Rest Before 1.4700
 
After just missing the 1.46000 handle, EUR/USD pulled back to regroup for an attempt at the 1.4735 zone. Four consecutive up days could mean that the Euro is overdue for a rest. Look for a deeper pullback to the 1.4350 area before the Euro tries for this target again. It can be profitable but extremely risky to trade against the daily uptrend. Use a 4-hour or 2-hour chart to get a better entry on the pullback.
 

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