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Market Trend (EU Pair n Cross)


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Market Trend (USD Pair n Cross))


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Trading Update By ForexCycle

Forex Market Movement

Tuesday, May 17, 2011

EUR/USD intraday: supported by a rising trend line.

Pivot: 1.41
Our preference: Long positions above 1.41 with targets @ 1.4245 & 1.432 in extension.
Alternative scenario: Below 1.41 look for further downside with 1.4045 & 1.4 as targets.
Comment: the pair and its intraday RSI are supported by rising trend lines and should post a rebound.

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