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03/02/2014: Watching this spike on EUR/USD

After the huge miss on US ISM Manufacturing which was 51.3 versus 56.0 expected, we are getting a spike higher on EUR/USD.

I am still looking to sell this move, but the move is sharp and could be painful very near term.

Therefore, I am waiting for it to calm down.

My ideal entry point that I am looking at for a short is in the intraday resistance band $1.3530/$1.3560.

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