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Past performance is not a guarantee of future results. Please remember that technical analysis is only a tool for trading and even targeted analysis is no guarantee of profits. Forex trading carries a substantial risk of loss and only discretionary capital should be used in trading.

Forex Trading: Some modest dollar profit taking as the weekend approaches

Posted by Greg Michalowski on Fri, 08/29/2008 - 2:34pm in

The EURUSD has bounced back up to the 1.4675 level from a low of 1.4640. The pair remains below the 1.4710 level where the 100 hour moving average is located. The low for the week was 1.4571. The high was 1.4811. The midpoint comes in at 1.4691.