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Today's yen strength offers a correction and an intraday reversal set up
The continued disappointment of the Greek deal is putting pressure on the euro while the yen is rallying on a second stimulus “emergency plan” from Noda who no-doubt sees his days are numbered. Together the euro weakness and yen strength is creating a near-term pullback on the EUR/USD which has just pierced the 23.6% Fibonacci Retracement level. Here’s how I am playing it… A shallow correction like the one I see on the daily EUR/JPY is seldom a reason to trigger a swing buy unless the 23.6% is near-term the 20 period SMA close. In this case the uptrend is not especially established and the distance between ... (full story)
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- Nov 28, 2012 3:02pm Nov 28, 2012 3:02pm
- Guest
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- Nov 28, 2012 3:10pm Nov 28, 2012 3:10pm
- rhhince
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- Nov 28, 2012 3:16pm Nov 28, 2012 3:16pm
- Spreadbetter
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"The meek shall inherit the earth.." Yeah right, good luck with that shit..
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- Dec 1, 2012 10:01pm Dec 1, 2012 10:01pm
- ricco747
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