Thursday Chart of Interest

Article originally published on innerfx.com and republished here with permission

Good morning. Not much happened across the charts after yesterday’s important events – such as Fed’s interest rate decision, Draghi’s speech etc. The euro continued to weaken against the US dollar but managed to find support in the fib range highlighted below. Should this be a simple corrective decline? we’ll find out very soon

Market sentiment: intraday – bullish, short-term – mixed
Potential trade strategy: to hold a small long position, target at 1.3070

EURUSD 4hrs 10-25-2012

EURUSD 4hrs 10-25-2012

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About abwehra group

The Art&Science of Trading Gold
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