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Week of August 11, 2008-American Session

In our previous post we indicated that a close below 1.4970 at 14:00 GMT would confirm a sell for EURUSD, as 14:00 GMT has now arrived and prices are hovering around the figure. Intraday charts are a bit mixed while hourlies and dailies continue to consolidate recent US dollar gains. At this writing we do not see any favorable trade opportunities and the intraday environment has a higher than normal risk at the moment, so, for now, we will stand aside until better opportunities unfold. Please take a minute to read our weekly outlook.

More updates later.

Forex Signals Plus, RW

  • Posted by adminfx
  • On August 11, 2008
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