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Forex4you Technical Analysis 17 March 2011

Discussion in 'Technical Analysis' started by forex4you, Mar 17, 2011.

  1. forex4you

    forex4you New Member

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    EUR/USD: technical analysis

    EUR/USD is rallying strongly after completing a fulcrum bottom pattern overnight. The target for the end of the rally, taken from the 1.3870 lows is for a top at 1.4005, which has already been surpassed. This could signify that the rally is overstretched and might start to retrace. The exchange rate will probably drift back down to1.4000 before generating another directional move.

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    Forex
    Analysis by: Joaquin Monfort
    Forex4you analyst

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