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Eur/Usd approaching 200 hour M/A

Written November 26, 2009 at 11:59 PM EST by Vincent Facchino 

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Eur/Usd is approaching its 200 hour M/A of 1.4954. If the pair can get above this level we may be in for a partial retracement of move down from 1.5142. The 38.2% Fibo lies at 1.5000 and 100 hour M/A at 1.5004 fro added resistance. This would be next level to upside. If it can’t break above a move back to lows of 1.4912 is likely.

vincent_fx000012

Categories: Forex Trading  |  
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