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This pair smashed through the 1.35 level a few weeks ago, and has retested it today. This pair has even printed a hammer at the level, and is hinting at potential strength if we can get above the 1.3570 level. Because of the overall trend, traders will certainly prefer to be long in this pair, and selling isn’t advised. However, if we can get below 1.35, a short-term fall could be in the cards. The smart money will undoubtedly be looking for longs though.
More March 16, 2011 Analysis:
