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EUR/USD INTRADAY TRADING FOR 22-OCT-2010

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EUR/USD is likely to be bearish, hourly chart clearly confirms the bearish pattern formed here. The pair again failed to break 1.4010 levels, so we see bears strong at current levels.

Our view: SHORT POSITION BELOW 1.3901 FOR TARGET 1.3860 . STOP LOSS MUST BE PLACED AT 1.3929 OR GO LONG IF PAIR APPROCHES THE STOPLOSS FOR TARGET 1.3985

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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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