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Tuesday, November 15, 2011

Euro and 1.35

The EUR/USD forex pair is back down to the 1.35 level...if it breaks and holds below, price could ultimately drop to 1.33, then 1.30, as shown on the two Daily charts below...otherwise, we may see price advance to 1.40ish.

As a potential confirmation of direction, I'll keep an eye on the European financials sector, EUFN...price is currently sitting on support just below Fibonacci confluence resistance, as shown on the Daily and 4-hour charts below.