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Collins: EURUSD can go lower

Alan Collins is trading EURUSD and expecting the negative trend to continue. The down trend has dominated for the last two months, this week is the sixth 'down week' out of the last seven.

Alan notes that EURUSD has corrected more than 62% from the 2013/14 rise. The Market continues to attempt profit taking rallies but Alan says "Prices are hugging the lower end of daily and weekly Keltner channels" suggesting more negative action to come.

Targets: 1.3104 & 1.3040

Above 1.3245 delay trade

00:57 minutes
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