Tuesday, December 16, 2008

12/16 - PROBING POSSIBLE TRENDLINE SUPPORT


The US Dollar's continued weakness is now probing possible trendline support off the July & September lows, just above the 100-day MA. Oversold daily studies could buoy a temporary correction towards 82.13-83.20. Expect weakness to persist, however, while price-action remains below the 10-day & 20-day SMA's.

Strategy Summary: RE-BUY EUR/USD

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