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Tuesday, 7 July 2015

EUR/USD Downtrend to moderate or reverse

Perhaps the Euro has fallen far enough against the US Dollar.

Leaving out the Down-spike of 26 June (Euro sell-off on Asian markets), the Support Line S1 is tending to converge with Resistance Line R1.

The Parabolic S line may be a better indicator of the Support Level.

The price, moreover, has moved far enough away from the Moving Average to warrant a move back.

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