9-5-08
3:26a GMT – As the EUR/USD broke through strong support once again, we need to back out all the way to a monthly chart to take a look at where this might go next. The answer: the EUR/USD has more room to fall with the next major support at 1.4000 at the intersection of the 50% Fibonacci level (from the July 2005-March 2008 rise), the monthly trend support and a large round number.
Trading Idea: Look to sell rallies on shorter term charts down to 1.4000.
(click to enlarge)

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