This financial blog contains of posts which are an expression of an analytic point of view towards the economy on the macro and micro level, stock exchanges, trading strategies, FOREX market, currency levels, etc. Nothing in it is /and should not be considered as/ an advice to buy or sell something.
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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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