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Long EURAUD against the Low

Long EURAUD against the Low

2012-03-12 20:45:00
David Rodriguez, Head of Product
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Two weeks ago I was bullish 'risk' and bearish EURAUD. But times change and I change with them, and I see ample evidence that the Australian Dollar may head lower across the board. In fact, I discuss the full reasoning behind my bearish 'risk' currencies bias in this week's forex strategy outlook webinar.

I'm long from 1.2535 against the weekly low of 1.2398. A break to fresh highs targets 1.2612 and beyond.

--- Written by David Rodríguez, Quantitative Strategist for DailyFX.com

To receive this author's reports via e-mail, contact drodriguez@dailyfx.com with subject line "Distribution List".

http://www.dailyfx.com/technical_analysis/sentiment/?technicalSentiment=EUR/USD

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