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Masoud : Midweek EUR/USD Review 19 Oct 11

Hello koala king and folk.
Good day to you.
Due to my busy schedule, i cannot provide my opinions on fundamental analysis. However according to the rumors and the atmosphere in the market, optimism regarding the development of fundamental progress is strong and market risk appetite is present.
 
From a technical perspective: 
As you can see in the above picture, while the EUR/USD is above the 1.3680 level the main trend is upward. If the currency pair closes below 1.3680, it is more likely to fall to 1.3480 because If the EUR/USD reach to 1.3680, the head and shoulders pattern will be shaped and the height of the head to neck line which is about 230 pips will result in a possible target of about 1.3480.
Have a nice time.
Masoud
Masoud is a businessman and a Senior Forex Koala. Connect with him at our page on Facebook

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