Eur/Usd...............
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Looking for a retest/break of the 1.23 basis for a move South to the 1.2270/80 level...to begin probing the All important 1.2250 ...with a break of 1.22 Signaling strong South momentum towards a further decline to 1.21 basis. North continuance still resides at a break of 1.24 for a run to 1.2460 thru 1.25.
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Time/Price has North High at 1.2378 with South decline thru 1.23 to current Low at 1.2276. USD has rallied off its Low at 87.73 to current North advance to 88.24...maintaining its position above 88 basis.
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US Dollar Index is the Key.....
North thru 88.50<>90 builds USD strength...
South thru 87.50<>87 shows USD weakening...
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1st Signal South is a break of 1.2270 to a test at 1.2250 basis...with a South decline to 1.2250 unfolding...then a Low in the 1.2210/25 levels...backing the Bulls into a further decline thru 1.21 for a rendevous with the 1.1950 basis. The Pendulum for USD will be at 1.2250<>1.22 basis.
Googa..........
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