Monday, November 16, 2009


 EUR/USD losses were limited late Friday as the pair rallied back up above 1.4900.  In the short-term I am looking for a drop to the trend support around 1.4800, and I am a bit bearish below last week’s top of 1.5050. Therefore I will look to sell on a rally below 1.5050, preferably around 1.5015.
 Look for shorts below 1.5050 with targets (from 1.5015) at 1.4980, 1.4950, 1.4915 and 1.4880. Above 1.5015 look for a re-challenge of 1.5050

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