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Week of November 22-26, 2010

EURUSD’s rise from the September 10th low of 1.2643 is complete at the November 4th high of 1.4281 as prices have now moved within 1.3268-1.3655 consolidation zone of the 1.2643-1.4281 rise.  A daily open and close outside the above mentioned zone will favor further price extension in the direction of the break with 1.3131, 1.2950 and 1.2632 as downside targets while an upside break targets 1.3782, 1.3900, and 1.4045. For the week ahead, look to sell EURUSD while 1.3655 caps for 1.3268 and 1.3131 as the next objective.

  • Posted by adminfx
  • On November 22, 2010
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