12/30/08 9:09 am - EURUSD: Long entry set at 1.4075

Bullish looking dailies and hourlies, and a retest of 1.47 is now likely. The daily EMA10 has caught up with price and is acting as strong support, and 1.39 is holding as well. Set a long entry at 1.4075 to catch a pullback which should complete the latest hourly correction (second leg). Tight stop at 1.3960, target 1.47.

Hourly Chart:

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