Technical Analysis by Howard Friend, chief market strategist at MIG BANK, Switzerland.
10th of December 2010
Price action in FX has been choppy over the past couple of weeks as trading ranges have taken shape. Taking a step back from the "noise", a clear theme of a recovering USD and a crumbling Euro has been developing since early November. Having initially shorted EUR/USD at 1.4070 and taken profits at 1.3015, I re-established my short position at 1.3299 last week looking for breakdown towards 1.2500/1.2600.
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