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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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At Hantec Markets Ltd we provide an execution only service. Any opinions expressed by analyst Richard Perry should not be construed as investment advice or an investment recommendation. This report does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. Forex and CFDs are leveraged products which can result in losses greater than your initial deposit. Therefore you should only speculate with money that you can afford to lose. Please ensure you fully understand the risks involved, seeking independent advice if necessary prior to entering into such transactions.