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Saturday, August 22, 2009

EUR/USD May 19th update

The rate is trading @ 1.3632; today it moved from a low @1.3537 to a high @ 1.3667;
right now I do not see any clear opportunity to trade; the rate may move up to 1.3700 and so will go to check the resistance @ 1.3720-40; or it may move down to 1.3570 or further to 1.3540; tomorrow news should not have a big impact on the rate; so to me looks much more possible it will go to 1.3720 area;
here are some support and resistance:
R1 1.3689;
R2 1.3743;
R3 1.3873;
S1 1.3559;
S2 1.3483;
S3 1.3353;

will see the overnight developement and maybe tomorrow there will be some more clear possibilty of trading, right now my trading plan is: no positions.
have a good rest

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