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EURUSD update--Tuesday, May 19, 2009

There was a fairly strong rejection at the 2.058 Fibonacci level noted on the chart from a few hours ago. Nevertheless, the odds are this level will be broken (sooner rather than later) and the market will head for the 2.618 target around 1.3840. Then we might expect a significant pull back. Stay tuned.
090519-1013-eur4hr.gif

Posted by Pure Guesswork on May 19, 2009 10:22 AM |

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