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Breakout at Frankfurt opening. On time

Posted on July 20, 2009 at 4:43 in Market comments by David Aranzabal

Today the European Breakout was at 06.00 GMT (Frankfurt Opening, just on time, like a news release.

Price broke the descending trendline and broke the Asian resistance at this time. The price retraced, just in case you didn’t grab the first opportunity. After that the price went all the way up till the 1.6500 level (double cero). Personaly, 1,6480 was the level to watch and close most of your position, as it was the previous swing high in 60m charts.

See the charts for more details:

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