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EURUSD correction stays below 1.3247
There is Draghi to come later today (2:30 PM ET). London and European traders are supposed to head home and may square up. So there may be some up and down action. However, the last correction higher off the 1.3219 low has stayed below the 1.3247 level which is the 38.2% of the move up from the July 2012 low to the May 2015 high (see daily chart) Staying below this level has the potential to do two things. One, it shows that the shorts are anxious to sell on a correction toward what was old support. That is good for the bears. For the bulls/buyers, it makes them more nervous about their positions. The combination is ... (full story)