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Daily Recommended Trades

EUR/USD daily outlook

Wed, Nov 7 2007, 07:28 GMT
by Liviu Flesar

InnerFX  |  View company's profile


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The Euro rose on yesterday and today's Asian session and it managed to get past the 1.4600 mark, setting fresh highs at 1.4665. Support is now formed by 1.4610 backed by 1.4580 and 1.4550. Resistance starts at 1.4645 and it is followed by 1.4665 and 1.4700. Daily sentiment is bullish, hourly is slightly bearish at the time of this writing. If the Euro will hold above the 1.4600 mark and it will build a good support, then it may continue to climb towards 1.47. Although it is highly bullish nowadays, it went too far and a trend correction seems necessary. Current quote is 1.4627 @07:23 GMT

Published on  Wed, Nov 7 2007, 07:29 GMT


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