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Week of August 13, 2008-European Session

The EURUSD is currently in a corrective move up as prices just tested the 61.8% of the recent 1.5080-1.4816 active wave at 1.4981. We missed an earlier intraday buy confirmation at 1.4944 but were fortunate to see another confirmation and entered a small intraday long at the close of the 15 minute 7:00 GMT candle at 7:15 GMT. We covered at 1.5479 anticipating initial offers ahead of the 61.8 of the current active wave. The medium term trend remains to the downside for EURUSD as we view rallies as only corrections. We will have more updates throughout the session and later today.

Forex Signals Plus, RW

  • Posted by adminfx
  • On August 13, 2008
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