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  • EURUSD Does Its Thing. Moves Below 100 Hour MA. 0 comments
    Jun 11, 2012 11:15 AM | about stocks: FXE

    The Correction Zone in EUR/USD (FXE) (see prior post) gave the NY traders the opportunity to get on the trend and they did. The 38.2% of the last leg was all the price could reach and the price rotated back down. The price has moved below the 100 hour MA at the 1.25304 and the 61.8% at the 1.25228. Look for what was support to become resistance now. The 200 hour MA is at 1.2470. I would guess the 1.2500 level would attract support buyers ahead of this level.

    Steps down continue.

    http://www.forexlive.com/blog/2012/06/11/eurusd-does-its-thing-moves-below-100-hour-ma/

    Themes: Currency ETF Stocks: FXE
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