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Euro Technical Outlook

Wednesday, 03 December 2008 14:11:33 GMT

Written by Jamie Saettele, Senior Currency Strategist

I am sticking with the triangle pattern.  Triangles consist of 5 waves, a-b-c-d-e. 

If a triangle is underway, then wave e is underway now (possibly complete at 1.2772) and will end as a spike above 1.2772.  Resistance begins at 1.28 and extends as high as 1.30.  Rallies into this zone should be sold.

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