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EUR’s Slide – May 5, 2010

Here’s an update of the EURUSD chart that I drew yesterday. As you can see, the pair broke below its previous low at 1.3114 to register a new one at 1.2934. Conditions, however, are already oversold as indicated by the stochastics. Given this, the pair could retrace for awhile and probably reach somewhere around 1.3100 before continuing its trek downward. More...

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