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17th May - Dollar Euro end of the first leg

17 May 2012

TECHNICALS:

WEEKLY CHART

 

The weekly chart shows how the market retraced back to retest the neckline when the big  H&S finally completed.

Note that there is still long way to go…

DAILY CHART

The small H&S pattern which completed two week ago has achieved much of the expected move.

We are profit-takers here and on a close approach to the pivotal low at 1.2628

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Next story:
17th May - CRB Index Breaks Key Support

Previous story:
10th May - Crude Oil Slip Gaining Momentum

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