Forex Trading: EUR/USD Back Down To The Day’s Lows

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Forex Trading: EUR/USD Back Down To The Day’s Lows

By Greg Michalowski on January 13, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The EUR/USD has moved back down to test the most recent day low at the 1.3168 level.

Over the near term at least, the pair has been able to keep distance between the price and the 61.8% retracement level at the 1.3242 level. This is helping to give the sellers the upper hand intraday and keeps the pressure to the downside.

Admittedly, however, is the up/down volatility which can be nerve racking. So although the technical levels hold, it is easier said than done given the gyrations in the price action.

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