Euro rally is still a bear market correction
26 November 2008
The EUR/USD rally that we are currently witnessing is capable of going back above 1.3200, but I would urge caution above 1.3215. The currency had reached 1.3294 last time, and it could still go there, but this is still a bear market, and until we get two closes above 1.3220, I would remain skeptical about its prospect. | |
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This is the kind of EUR/USD setup I break down in detail in Module 14 of my course, a real EUR/USD case study.