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Thread: King of the Micro - Hot Trader Spotlight

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#140 (permalink)

05-28-2009, 09:53 AM

Terri Belkas Terri Belkas is offline

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Join Date: Jan 2007

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EURUSD has continued pulling back, establishing a series of lower highs and on the hourly charts, we see a short-term falling channel formation. Likewise, daily RSI has come down from overbought levels, but daily charts also showing a rising channel formation that has contained price for the entire month of May. Based on both the hourly and daily charts, it looks like 1.3800 is the proverbial 'line in the sand' for the EUR/USD outlook.

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Terri Belkas is the author of Daily Fundamentals, Global Central Bank Comments, and Forex Trading Weekly Forecast on DailyFX.com.

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