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1.5
1.48
'spike high'
1.46
1.44
1.42
1.4
1.38
1.36
1.34
Jan09 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan10 Feb Mar Apr May Jun Jul
Comment: Last week’s ‘spike high’ against the 26-week moving average at 1.4575 suggests the Euro will hold
below here for at least another week despite all other elements of this chart suggesting a long Euro position.
Unlikely to break above here today though a weekly close above 1.4500 might still be possible. Mixed at best today.
Strategy: Possibly attempt small longs at 1.4390; stop below 1.4335. Short term target 1.4460, then 1.4550.
Chart Levels:
Support Resistance Direction of Trade
1.4365 1.4400
1.4335 1.4460
1.4300 1.4555
1.4255 1.4580*
1.4218/1.4200* 1.4600