Tuesday 6 September 2011

EURUSD

Long term reaction line (thick brick red) from monthly fork runs through the chart at a effective angle and has already supported/resisted price more than three times since early 2010 .Yesterdays sharp move up was a simply release of energy but after the steep move up we are now moving lower past the 100% retracement as the energy dissipates and expect to see the psychological 1.40 level tested.







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