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Monday, 13 July 2015

EUR/USD Here she rises

Swinging down at the moment, the breaking news from Brussels of an Agreement between EU leaders on Greece, will see this downswing aborted and the Euro zoom upwards.

The purple triangle on the chart tentatively shows the shape of the emerging upwards channel.

The 30-day MA (720 hour) begins to turn upwards.

The US Dollar is certainly too expensive as far as trade is concerned, and the ultimate target of the upswing will be c. $1.50, by September, perhaps.

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