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FS Team forecasts consolidation at current levels for EUR/USD today by Forex Strategy Team
Updated 05:39 GMT, October 20, 2008

EUR/USD (1.3486)

European & US sessions forecast levels: 1.3345/1.3590

Trend Sessions: European: Neutral

US: Neutral

Market Focus: 10:00 AM Leading Indicators, 2:00 AM German PPI.

Daily Strategy: The bank crisis continues as new worldwide bank is needed by financial injection. ING is among the 20th biggest banks of the world became in financial problems. The trading today will remain into neutral directions. The key support is formed at 1.3345. For a break below 1.3345 is necessary strong attack. It is mostly expecting flat movements today with slowly movements up above 1.3540 as even to 1.3590. The trading strategy today is trading within the trading range and try to open long positions, as buy on dips.

Forex Forecasts by FS Team
 

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