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Wednesday, February 2, 2011

EURUSD on the hour

The EURUSD pair ended the hour at 1.3778 - 50 pips below the possible entry level at 1.3830. Still there is some room for a fast drop to 1.3750 or even to 1.3730/20 (50% of the Fibo retracement). Depending on the client risk attitude the short USD trade could be closed now. Another strategy is to put a stop at 1.3780 in order to preserve the profits till now.

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