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EUR/USD Short Trade – 11.19.2012

EUR/USD Short Trade – 11.19.2012

Jamie Saettele, CMT, Sr. Technical Strategist

As focused in FX Technical Weekly, the EUR/USD decline from Thursday’s high (12801) is impulsive which suggests that the larger downtrend has resumed. I am short as of this morning (from 12770, released via Twitter @JamieSaettele) with a 12805 stop. Exceeding 12801 would shift focus to former supports at 12824 and 12882.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.