EUR -same as CHF- keeps up with the retrace environment started on Monday morning, responding to the multiple reasons that the market had to bounce from the already mentioned D extension at 1.4259. Aggressive traders that have taken short positions can already consider to lock in their profits from the selling entries as the market has started to score points at support levels from 1.4110. It now appears that the bull environment will be taking a break for a few days and we will probably see more of bears in charge of EUR. The more conservative point of view will therefore continue to be out of the market during the initial hours of the upcoming session.
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Oct 5, 2007
Forex Daily Analysis
EUR/USD
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