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Wednesday, October 20, 2010

FX Comments 10/20/2010

Good morning,

I will stick to yesterday views that EURUSD should continue to trade lower down to 1.3650, even 1.3600.
The sharp retracement from 1.3700 lows overnight shoulld ideally cap here @1.3820, but we still risk
to trade slightly higher if some weak stop losses have to be triggered.
I would not like that EURUSD crosses back again over 1.3870-80 and will therefore put a Stop Loss
above this level on the position I just initiated here @ 1.3816.
Main risk event today might be Fed Beige Book tonight at 20.00.

Good Luck,

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