Those who say it cannot be done should not interrupt those who are doing it
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EURUSD: Halts Declines, Recovery Risk Develops
EURUSD: The pair has halted its weakness following a failed test of the 1.3144 level the past week. With a high wave candle pattern now in place, risk of a recovery higher in the new week is a possibility. In such a case, its Friday high at 1.3524 level will come in as the initial resistance with a violation of that level creating scope for a move lower towards its Sept 28’2011 high at 1.3690. We may see a price hesitation turning EUR lower at this level but if that fails to occur, further strength could build up towards the 1.3799 level, its Sept’2011 high and the 1.3835 level. On the downside, the risk is for ... (full story)