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Wednesday, January 12, 2011


Still will short this counter

On it break the 1.2865, will try to short this counter .

refer to the expert from Technical Currency Strategist for

EURUSD_Classical_body_eur.png, EUR/USD Classical 01.11

EUR/USD:The market remains under some intense pressure, with the latest break below key support by 1.2970 confirming a medium-term lower top by 1.3500 and opening a fresh downside extension towards next key support by 1.2585 over the coming days. Despite the latest drop, daily studies are still not quite oversold and show plenty of room for additional weakness before even considering a material bounce. As such, we expect any intraday rallies to be well capped ahead of 1.3300. Back under 1.2875 accelerates.
Written by Joel Kruger, Technical Currency Strategist for 


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