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EUR/CHF – Remains vulnerable to the downside
Holding above 1.2000 for now. EUR/CHF continues to mark time just above the key 1.2000 level as the threat of SNB intervention helps to form a floor. • While we could see further corrective upside activity the overall tone remains negative after breach of the February swing low at 1.2031 and while 1.2050/1.2070 caps we see risk of an attack on retracement support at 1.1905 initially as the major downtrend extends. • Settlement above 1.2050/1.2070 from here would suggest basing potential, while re-capture of 1.2147 would confirm a base pattern calling for a return to broken support at 1.2226 initially. GOLD - ... (full story)
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- May 21, 2012 9:21am May 21, 2012 9:21am
- vijidas
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