EUR/USD 1H chart 1/29/2013 9:45AM EST
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Correction: The EUR/JPY is in a correction since the 126.96 high on Friday. Falling to 125.48 by 2/4 US session. This snap shot at 9:40AM EST, shows the correction at the 200-15-min SMA. The structure is a double-three in Elliott Wave terminology. 126.05-126.16 could be a key intra-day area. Holding below might be a bearish sign for further bearish correction. Otherwise, we are neutral with a bullish stance.
Fan Yang CMT is a forex trader, analyst, educator and Chief Technical Strategist for FXTimes – provider of Forex News, Analysis, Education, Videos, Charts, and other trading resources.
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