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Technicals

EUR/USD: The Euro is looking for direction

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16 May 2008 @ 01:56 am EST
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FXstreet.com (Barcelona) - The Euro Dollar continues trading sideways, according to the E-Forex team, these are the next resistance lines: "A break above 1.5595 preferably 1.5650 is needed to confirm a resume of the uptrend." On the downside, the E-Forex Team advances: "the downside should extend below 1.5360 to re-establish bearish structure on short-term studies. Intra-day support is seen at 1.5435, 1.5400 and 1.5365."

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