Wild FX Action

12/23/2008 9:18 am EST

Focus: FOREX

Thomas Aspray

, Professional Trader & Analyst

chart

The ranges in the euro last week were the largest that most traders have ever seen. The chart of the euro futures shows that the rebound reached the declining 200-day MA and the 61.8% resistance level last week before reversing. The euro is now back to first support at 1.38, with stronger support at 1.33.

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