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Euro/Dollar Proposes A Rally Next Week

From efxnews.com

A proposal that would see the European Central Bank lending to the International Monetary Fund for future bailouts is out in the open, and the euro/dollar pair, I imagine, literally stopped this Friday session to "think" about it. If the proposal turns out to be compelling, it could come at a propitious moment, with the charts setting euro trading up for solid support next week. For example, the euro's dominant technical feature now is its downtrend from the November high of $1.4250, recorded on Nov. 27. The low for the downtrend is Thursday's low of $1.3421. More to the point, perhaps, is that the euro earlier in ... (full story)

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