Euro has been choppy this morning because of the ECB announcement and the Trichet comments. This isn't unusual. Before that Euro had corrected to a high of 1.3217 (missing my profit stop by one pip). It then sunk to 1.3060 which is a .618 retracement of the rise from the Nov. 30th of 1.2969. In its rise it cleared the 1.3150 resistance and had four consecutive hourly closes above that. It needs more, preferably a daily close. If this happens, then I'd expect price to retest the uptrend line from June at 1.3315 or the 1.3335 former support. Only above there would I expect to see a move back to the 1.35 area. I don't think that's going to happen.
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