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Euro overbought at 1.4250 to take a pause
The euro appears to be in a bullish mood following a sharp drop following NFP and an even more remarkable rise above 1.4200. There are several indicators that tell me that this current impulse is a bit ahead of itself. In terms of trend we are in a bullish euro trend. Unless something falls apart in the EU, the promise to raise interest rates ahead of the US is sufficient to side short-term and medium-term speculators on the side of the euro. The middle ground we are stepping on between 1.4000 and 1.4500 is a preview of the
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- Apr 4, 2011 9:19am Apr 4, 2011 9:19am
- fxpreacher
- | Joined Feb 2011 | Status: Member | 165 Comments
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- Apr 4, 2011 2:08pm Apr 4, 2011 2:08pm
- fierceman
- | Joined Mar 2007 | Status: Seņor Member | 429 Comments
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- Apr 4, 2011 3:57pm Apr 4, 2011 3:57pm
- fxpreacher
- | Joined Feb 2011 | Status: Member | 165 Comments