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EUR/USD, One Word - Overbought

EUR/USD, One Word - Overbought

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17 March 2010 11:21 AM GMT

With bad news forecast for the Dollar the likely retracement the price action is asking for will be near certain with each of the Forex technicals on the EUR/USD's daily FX chart above their centerline. Only the conservative RSI is hesitant.

Looking for some further confirmation of the direction the daily chart has dealt us, we find the three hour chart's technicals are flying high above their centerlines also. Forex traders around the world will find the Euro is overbought on the short term and sell the Euro off, the news below will aid that.
7:30am est USD

PPI m/m Forecast -0.2% Previous 1.4%

Currency Pairs

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Live FX Rates

Symbol	Change	High	Low

EUR/USD	0.0069	1.2623	1.2562
AUD/USD	0.0109	0.9879	0.9799
EUR/GBP	0.0026	0.8036	0.801
EUR/JPY	0.22	100.21	99.81
GBP/USD	0.0042	1.5716	1.5678
USD/CAD	-0.0054	1.0271	1.0238
USD/CHF	-0.0044	0.957	0.9532
USD/JPY	-0.3	79.73	79.35

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