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EUR/USD - Fail to break resistance level 1.4650 wil be strong selling signal

By:

Finotec

07-12-2007

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Rebound from within a few pips of the Nov 13 swing low support at 1.4520 came after uptrend line support off the Aug 17 low was broken at 1.4562 today.

Rebound has faltered at the 1.4650 Fibo. Despite today"s rebound, most daily studies remain bearish and ADX has just begun to bounce again, so selling rallies is favored.

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Next Analysis: The European currency last Friday closed in a balanced pattern

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Finotec
Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and no

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