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EUR / USD lower through breaks intraday uptrend support

May 20, 2012 by Forex Market

The major rupture in the EUR / USD has led the pair to 1.4250 where the psychological resistance at the “50” pip has pushed a lower price bracket broken uptrend line pattern increase of the wedge. This pattern is a pattern of trends that should ideally be in the context of an uptrend and has three possible entry scenarios, two trend-following and trend change.
 EUR / USD 60 min chart with the IBFX-PRS Grab and MT4 plug-in

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