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Wednesday, November 17, 2010

FX Comments 11/17/2010

Good morning,
The situation regarding the bailout of Ireland is still not sorted out and since uncertainty continues to prevail   EURUSD went sharply lower as a result.
The way it has been trading has made it difficult to hold positions, but the trend is still there...
Selling rallies or keeping a short position still prevails in my humble opinion.
Firest resistances lie around 1.3510-20, followed by 1.3560-70 and on the downside, small support around 1.3460-70 followed by a stronger one @ 1.3410-30

Wish you a good trading,

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