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EURUSD: Bear Pressure Targets Key Support
EURUSD: Outlook for EUR has now turned lower following a price failure at the 1.4282 level and its subsequent declines to close lower last week. With bear pressure remaining intact and a follow through on the back of its past week losses underway, risk is building up for a return to the 1.3837 level, its July 12’2011 low. On a violation of that level, the pair will resume its downside weakness started from the 1.4940 level in May’2011 towards its Mar 06’2011 low at 1.3751 and possibly lower. Its daily RSI is bearish and pointing lower supporting this view. Alternatively, the pair will have to return above ... (full story)
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- rigpa
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I have past history of statements to justify what i say.
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