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Trade Update

Trade Update

2010-03-16 14:29:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:
I am looking for a 5th wave decline in the EURUSD (and probably extended down to the mid to low 12000s) but confidence is not extremely high. After reaching parallel channel resistance, the EURUSD has rolled over. However, the structure of the decline from 13800 is not impulsive, which dampens confidence in the downside. As such, there is the risk of price exceeding 13800 – 13850 would be the next level of potential resistance. I may be looking to short near there later today.

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