Forex Trading: EUR/USD Moves Back Lower

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Forex Trading: EUR/USD Moves Back Lower

By Greg Michalowski on July 9, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The 1.3940 level remains support, but the intraday 100 bar moving average on the 5 minute chart has been broken. The intraday chart pattern is forming a Head and Shoulder formation as well.

Still watching for bearish confirmation from a move below the 1.3940 level and would like to see the price remain below the 100 bar MA at the 1.3962 level.

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