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12/03/2014: I have just SOLD EUR/USD @ $1.38604

I expect the correction to continue to drag Euro/Dollar lower over the coming days. There is a downtrend in place on the hourly intraday chart which this morning’s rally has just hit and fallen away from again. Technical signals are corrective for a move back into the support band $1.3773/$1.3824.

I have placed my stop at $1.3900 (39.6 pips) which is above the reaction high at $1.3897 from Monday.

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