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Friday, October 22, 2010

FX Update 10/22/2010

Good afternoon, we have had some decent volatility this morning on position adjustments between
1.3858 and 1.3973.
Following my morning comments of fading the extremes, I would be inclined to sell EURUSD
@ 1.3965-70 for a target of 1.3880, even 1.3825-30. The next resistance on the upside lies @ 1.4015-25.
Based on this I will try the short side with a SL above 1.4050 (to be fine tuned)

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