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Hourly Forex Trading Strategies for Euro, Oct. 17th, 2010

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Uploaded by on Oct 17, 2010

The sharp decline from marginal new highs of 1.4160 to test but thus far hold 1.3935 channel sup in enough in the short term. This would allow for a rally in an attempt to renew the uptrend to a potential 1.4270 target. However, be way of a failure at the 50 percent retracement target of 1.4050 and a loss of 1.3935 to offer a second leg of correction to the recent 1.3775 base. A full pullback to fail the 1.4160 high will probably force shallow 1.3935 to 1.4150 range trade before a final new high of 1.4270 in a flat consolidation pattern.

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