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July 13, 2012

EUR/USD Spikes up from a New Low; Breaks Channel

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The last EUR/USD update noted the break below 1.22, and the continuing bearish outlook toward 1.20, 1.19. 7/13 price action is saying "not so fast" as the 9AM EDT candle sprung from a new low for the week at 1.2158, back to 1.2240. The spike stalled a bit right after the Umich consumer sentiment... FF News: Technical

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