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Wednesday, May 5, 2010

EUR/USD - Close below the Bollinger Band is bearish for the USD

EUR/USD closed below the lower Bollinger Band yesterday, this is short term bearish for the USD and should mean that we will soon see a correction towards the mid-band.
Longer term I still look for a move closer to the 127-128 support area, before a more seriouse correction is expected.

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