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13Oct/090

December Eurocurrency

December Eurocurrency – Central banks are currently sitting with record reserves, but they are increasingly snubbing the U.S. dollar in favor of euros and yen.  The shift away from U.S dollars is further pressuring the greenback as it comes off its biggest two-quarter rout in the last 20 years. Friday’s reversal swing day failed to traded above the prior day’s high, but it did trade below the prior day’s low, setting up a bullish trade “setup”. Monday’s “trail day” added to the bullish signal with a close higher than the opening price. The “trail day” can be a strong directional indicator, based on direction of the open and close of the trading day.   Buy the Eurocurrency at 1,4825 stop, with the protective stop at 1.4675.

December Eurocurrency

December Eurocurrency

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