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Contributors Chart Of The Day For September 9th ,2014-EUR/USD
  • EUR/USD Technical Strategy: Short at1.3644
  • Support: 1.2864, 1.2794, 1.2708
  • Resistance:1.2933, 1.3020, 1.3073

The Euro resumed its move lower against the US Dollar after a brief pause, sinking to a 14-month low. A daily close below the 50% Fibonacci expansion at 1.2864 exposes the 61.8% level at 1.2794. Alternatively, a turn above the 38.2% Fib at 1.2933 opens the door for a test of the 1.2998-1.3020 area marked by a formerly broken channel floor and the 23.6% expansion.

We entered short EURUSD at 1.3644 in line with our long-term fundamental outlook and have sincebooked profit on half of the position. The rest remains open to capture any further downside momentumwith a stop-loss at 1.3583, our initial objective.

EUR/USD Technical Analysis: Selloff Resumes After a Pause

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