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Forex Trading. Dollar extends the gains on stronger home sales

Posted by Greg Michalowski on Thu, 08/07/2008 - 10:13am in

EURUSD

It is looking more and more like the EURUSD wants to test the low range support level athe 1.5284 at some point in the near future.

The latest Home Sales news pushed the EURUSD comfortably below yesterdays low level of 1.5398. This level willl now find sellers against the level intraday. There is some support at the 1.5360 to 1.5365 level where there were 4 separate lows on the daily chart. Below that, and a test of the 1.5284 level would be the target.

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