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Euro Support at 13560
Written by article default Monday, 04 October 2010 04:59
60 Minutes Bar
Eventually, the EURUSD is expected to reach the 100% extension of the 11875-13340 rally at 14140 in order to complete the 3 wave rally from the June low (intersects with corrective channel on October 25). Clearly, the uptrend is exceptionally strong and probably a bit too strong at the moment. 14 day DMI is at its highest level since December 2008, which saw the 14700 top. A pullback would encounter initial support at 13560.
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