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EUR/USD extends rally, stops triggered

By   || November 11, 2009 at 08:30 GMT
|| 1 comment || Add comment

EUR/USD has extended its early morning rally, triggering aforementioned stops on move through 1.5030, reaching session high 1.5044. We’re presently at 1.5035.

Haven’t heard any reports of China selling up at 1.5020/30 as had been widely expected.  Looks like slippery chaps may well have moved their interest. If it follows usual pattern they’re unlikely to have moved it very far.

Recent assertion by Federal Reserve Bank of Dallas President Fisher, that dollar is undergoing a “rather orderly depreciation”, will be one factor lending EUR/USD underpinning.  Smacks somewhat of benign neglect.

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One Response to “EUR/USD extends rally, stops triggered”

  1. Observer on November 11th, 2009 08:54 GMT

    Went long at 1.4950 and took profit at 1.5028. Trying to pick where the pullback will happen now.

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