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Tuesday, November 23, 2010

FX Comments 11/23/2010

Good morning,

EURUSD has been under pressure overnight on Ireland and Portugal's problems again, South and North Korea tensions not helping and thus giving a stronger USD tone.

Today I think that the USD should keep a bid tone and thus would continue to recommend being short EURUSD. For those who are not short from yesterday, I have strong resistances around 1.3590/1.3600 followed by 1.3630 and then 1.3670.
The target on this trades should be 1.3495/00 followed by1.3450 or better if we break previous lows.

I will try to update during the day depending on how busy the market is.

Good trading,

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