EUR/USD
May 29th, 2008
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EUR/USD broke below the small uptrend line from the May 8th low. For continuation of the downmove the pair should break below the 1.5600 figure and the 20- and 50-day Moving averages (1.5564). Next targets are 1.5470 and 1.5365. Strong offers are positioned in the 1.5670 /700 area and the progress higher will be difficult. If this resistance zone is broken we can see anoter test of the stronger resistance @ 1.5820.
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