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Forex Trading:EURUSD remains bid

Posted by Greg Michalowski on Mon, 05/12/2008 - 1:11pm in

EURUSD

The EURUSD has remained bid this morning a trades near the high level for the day. Earlier today, the pair made it through the 200 hour moving average and did not look back. Now the pair is approaching the 38.2 Retracement level of the move down from the high on April 22nd to the low on May 8th. This level comes in at the 1.5564 level.

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