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Sunday, June 27, 2010

FXE base

After recovering from all the hype in the early part of this month, the Euro currency has come back to a previously accepted value range.
Looking at this weekly chart of FXE, the measured move jumps out at you:There are a couple of Resistance zones overhead, but price looks more interested to test what's above than what's below at this point in time.$125 will be a big pivot to clear. If it can recover $125 support than there's a lot of clear air between that and $135 to test.

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