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Trade Idea: EUR/USD – Sell At 1.4300

Posted by cvbasheer on January 20, 2010

The single currency extended recent decline after breaking indicated support at 1.4257 and the breach of 1.4218 support confirms the major decline from 1.5145 (2009 high) has resumed and stronger retracement of early upmove is in progress for further fall to (price already met indicated first downside target at 1.4170 – 100% projection of 1.4580 to 1.4335 measuring from 1.4415) 1.4118 (50% projection of 1.5142 to 1.4218 measuring from 1.4580) but reckon 1.4040/50 would hold from here and bring rebound later this week.


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