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EUR/USD Reaches 1 Month Low

May 10, 2007 (Last updated on November 29, 2009) by

EUR/USD reached its one month minimum level today during a fast dollar rally that has been influenced strongly by the yesterday’s FOMC statements. Is it a bull trend break, or just a small correction before the new heights? The answer will lie in the next 2 weeks — the next one can be ranging, while the second — bearish, which will show Forex traders a new medium term trend for EUR/USD, bullish weeks will probably return EUR/USD back to bulls.

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