By
Forex4you |
Technical Analysis | Oct 17, 2011 10:02AM GMT |
Eurodollar has met resistance from the 50-day MA at 1.3925 and it is pulling back. Momentum is overbought and the correction may develop into a deeper down-move, however, there has been no signal given yet. The overall trend is still higher with 1.4000 as the next target to the upside but if early indications bear fruit a bear move could target 1.3700 at first.

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