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Wednesday 11.29.2006

EURUSD


The Euro extended its gains against the U.S. dollar, testing offers in the 1.3220 area. Support is now formed by 1.3180 backed by 1.3160 and 1.3120. Resistance emerges at 1.3220 followed by 1.3270. Sentiment is bullish on both daily and hourly studies. While the 1.3170 resistance holds, new tests of 1.3220 are possible. Current exchange rate is 1.3203 @ 06:58 GMT


Trading strategies:


Long in the 1.3170 area, stop below 1.3140, objectives at and above 1.3220.

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