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07.16.08
EUR/USD
The EUR/USD is trading down from the late tuesday levels. The pair had a new high above the psycological number 1.6308 line early on tuesday but quickly backed off. It is notable that EUR/USD has been unable to perfrom positively recently on good news after the failure above the 1.6038 line. Is this the turn of the USD? We have no idea and will have to take the price action one day at a time.
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