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Trade Update

Trade Update

2010-05-18 14:48:00
Jamie Saettele, CMT, Sr. Technical Strategist
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After trading beneath the 2008 low, the EURUSD has staged a reversal. Support is reinforced by several downward sloping support lines. I wrote Friday that “I am on the lookout for some sort of exhaustion move.” The latest drop may very well have been that exhaustion move. Expectations over the next several weeks are for a move back to 13000. Wait for a clear long setup on short term charts.

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