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  #420 (permalink)

La Jolla, CA
Trading Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
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Posts: 1,040 since Jul 2010
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Looking at a big picture, if there is some sort of agreement in the EU which will most likely be temporary, I could see a decent retracement taking place that could take price up to the high 1.30's to low 1.40's area. That would be half way back from the high from May and a relatively low volume area. Just seems like a good target if we're able to get above vwap. Counter to that thought, we could get denied at vwap or just simply continue to fall which should take us to around the 1.20's area. I guess it's going to come down to the debt crisis. With Italy and Spain being downgraded today, it sure doesn't help the situation so, maybe we get a run away further south from here.

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