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Wednesday, August 3, 2011
XEU Euro Daily Chart Descending Triangle Gaps
XEU euro moving out into a descending triangle pattern, the latest action playing around at the top rail before pulling lower back into the triangle. The 141 is huge support; it's a big deal should it fail. 140-141 very important. A failure of the triangle's 141 base line would target 133. Price is under the 20 MA that is under the 50 MA, bearish. Lots of sideways sputtering is occurring but projection would be for the base line to give way in the days and weeks ahead. Gaps are highlighted. Euro down = dollar up = equities down = commodities down = treasury price up (yields down). This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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