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December 19, 2011

EUR/USD Anchors out of Counter-Trend Channel

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The 1H EUR/USD chart shows the market failing to trade in a rising channel after it hit 23.6% retracement of the December dip from 1.3549 to 1.2944. Now it appears price action is turning bearish after it anchored out of the channel. Note that the market is trading below the 200 hour simple moving... FF News: Technical

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