Two Pairs That Interest Me
Bo Harvey is writing
today’s column.
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The forex markets have seen
some relatively decent, albeit slow, action recently, as the dollar failed at
its long-term weekly downtrend line and looks poised to probe support levels of
previous swing lows. As the dollar weakened, some pairs, such as the euro, have
had more muted rallies compared to others, such as the yen and Canadian dollar.Â
Keep in mind that if we do get another downleg in the dollar, it could very well
be that the Asian currencies outperform given their more undervalued status
relative to the euro.
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Right now there are two pairs
that interest me as short setups since they’ve broken though 200 day EMAs—