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Publish Date29/11/2012 12:17:39 PM
Last Update29/11/2012 12:43:04 PM
Despite the thin trading it remains stable below 38.2% correction of the bearish Butterfly Harmonic Pattern, stability below that level at 0.9935 keeps the probability for extending the downside move . The negative Linear Regression Indicators supports our bearish expectations.
The trading range for today is among the key support at 0.9805 and key resistance at 1.0040.
The short term trend is expected to the downside with daily closing below 1.0125 targeting areas of 0.9400.
|Recommendation||Based on the charts and explanations above, our opinion is selling the pair below 0.9935 targeting 0.9895, 0.9855 then 0.9805 and stop-loss with four-hour closing above 1.0000 might be appropriate|
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