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Thoughts On The Current Correction

Posted on 08/01/2007 08:28:25 | Link | Post Comment
I haven't been trading this current correction due to swapping brokers and waiting for all that to switch, but I've been watching it. Personally instead of tracking the currencies I've just been watching the US dollar index. I have my sights set on 81.50 resistance and then will be looking for a reversal and continuation of the trend. That means I'm expecting a bit more of a pullback on the currencies across the board. This would kind of put them in the area of the 61.8% level, i.e: This is just something I had in mind as a POSSIBLE scenario. We'll have to see if it plays out like this, maybe it will, maybe it won't.


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