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Euro Decline May Accelerate
Written by article default Monday, 07 February 2011 16:04
60 Minute Bars
Prepared by Jamie Saettele
The EURUSD has reached its 20 day average and the next level of potential support is former resistance at 13456. However, short term wave structure indicates the potential for a sharp decline in a small 3rd wave as long as price remains below 13627. Near term objectives are Fibonacci extensions at 13308 (100%) and 13112 (161.8%). Former support at 13244 is also of interest. If pop above 13627 would probably complete a flat (resistance would be 13678).