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Euro Technical Outlook Euro Technical Outlook
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Old 08-21-2008, 11:00 AM
DailyFx's Avatar
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Join Date: Jan 2007
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Default Euro Technical Outlook
We wrote yesterday morning that “bottom line is that there is enough evidence to warrant a bullish bias against 1.4631.



Resistance a few days out is 1.4980 (former resistance), 1.5080 (former resistance), and 1.5170 (38.2 Fibonacci).” Price action is confirming our bullish bias to this point BUT be careful because the advance from 1.4630 is in 3 waves so far. In order for us to remain bullish, price must remain above 1.4672.
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