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EURUSD: Finally out of the range, Longs in Play

Its been a while since the last time I traded the EURUSD, actually, there was one trade (long opportunity) but the market came back into the range. But now its clear, the EURUSD is officially out of the range, helped by the weakness of the US Dollar. Please take a look at the next chart:

EURUSD

EURUSD

What is better is that we still have some room before the market hits the next long term resistance level.

My Trading Plan:

Look for long opportunitiesin the Euro, all take profit orders will be placed below the next long term resistance level around 1.4653

All short signals will be ignored.

Good luck!

Raul Lopez

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This entry was posted on Tuesday, September 8th, 2009 at 8:33 pm and is filed under Technical. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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