Little Room for Error

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Well, the day started with a nice little "we don't really need QE3" selloff, but that reversed very hard (so far). I am watching the long-term view of EUR/USD closely.

The setup is gorgeous, but frankly, there's not much room for error here. The chart could be wrecked with a single strong up-bar. In any event, things are still in place for now, and as long as we stay beneath that ascending trendline, I think the oft-cited Euro analog is still on track.


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