Banking Recommendation Technical’s |
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KAREN JONES, CBCM EUR/USD: "The euro spent yesterday consolidating its gains. Near term potential remains for this move to extend to its interim target area of $1.4910/1.5000, which is likely to provoke some profit taking (50 percent retracement of the move down from $1.6040 plus the 55 week moving average). Meanwhile near term dips lower will ideally be contained by $1.4635/1.4490. Failure here would imply immediate upside pressure was waning and the market likely to retest $1.4367/1.4240."
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