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Forexpros.com Daily Analysis - 30/08/2010
ForexPros Daily Analysis August 30, 2010
Free webinar on ForexPros - Trading the Harmonic Patterns LIVE
Expert: Chriss Hall
When: Thu, Aug 30, 2010, 08:00 ET
Chris will also be taking a live look at the markets where he will identify trades with you, help you setup your plan surrounding the harmonic patterns and execute any trades that look advantageous.
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The Euro reached a new weekly high on Friday at 1.2777, before retreating around 50 pips by the closing time. With this, the Euro continues to rise slowly, without being able to create a reaction that can be compared to the massive drop from 1.3332. This slow upside activity is actually a sign of weakness, and the rise look pretty corrective. And unless the Euro moves clearly up today, things will become hard for the single currency, and this will leave room for the Dollar to take over. Short term most important support is provided by the rising trend line from last week
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